Manage Tickers

Has my stock been accused of fraud?Join over 160k users who know.

Ticker Price Change($) Change(%) Shares Volume Prev Close Open Gain($) Gain(%)
Ticker Status Jurisdiction Filing Date CP Start CP End CP Loss Deadline
Ticker Case Name Status CP Start CP End Deadline Settlement Amt
Ticker Name Date Analyst Firm Up/Down Target ($) Rating Change Rating Current
Analyst Rating Guide

News

Back

Toshiba Picks Japan Industrial Partners Led Group As Preferred Bidder

Author: Anusuya Lahiri | October 12, 2022 08:01am

  • Toshiba Corp (OTC: TOSBF) (TOSYY) granted a Japan Industrial Partners Inc led consortium preferred bidder status for a buyout of the iconic Japanese firm.
  • Private equity firm JIP looked to acquire Toshiba in partnership with multiple domestic companies, including Orix Corp (NYSE: IX) and Chubu Electric Power (OTC: CHUEF), Bloomberg reports.
  • Toshiba considered that a sale to JIP would keep the company as one entity.
  • Other bidders remain interested in the assets.
  • Toshiba sought strategic proposals for its future, including potential buyout bids. It had targeted second-round offers by the end of September.
  • State-backed investment fund Japan Investment Corp is leading a rival group to JIP, with other investors like Bain Capital and MBK Partners in talks to be involved in its bid.
  • JIP will likely have a month to negotiate with Toshiba.
  • Until June, potential buyers were ready to cough up 7,000 yen ($51.41) per share, valuing Toshiba at $22 billion, representing a 27% premium.
  • Toshiba faced an operational crisis since 2015 when it disclosed accounting malpractice.
  • Price Action: TOSYY shares traded at $17.40 in the premarket on the last check Wednesday.

Posted In: CHUEF IX TOSBF TOSYY


CORE & Plaid

CORE Finalist

CLASS ACTION DEADLINES - JOIN NOW!

NEW CASE INVESTIGATION

CORE Finalist