Photonews Logo Photonews logo
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Azad Jammu Kashmir
    • Balochistan
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
    Red Sea Shark Attack
    Videos

    Shark Attack Tragedy: Tourist Loses Life While Swimming in Egypt’s Red Sea

    June 9, 2023 3 Min Read
    Asim Azhar, Shae Gill, Bulleya
    Videos

    Watch the Video of Asim Azhar and Shae Gill’s ‘Bulleya’: A Soothing Homage to Love and Peace

    June 2, 2023 1 Min Read
    "Josef Salek", "World Record Abdominal Plank"
    Videos

    Josef Salek Breaks World Record for Longest Abdominal Plank

    May 24, 2023 2 Min Read
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Reading: Toshiba accepts $15.2b buyout proposal
PhotoNews PakistanPhotoNews Pakistan
Aa
Search
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Balochistan
    • Azad Jammu Kashmir
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Have an existing account? Sign In
Follow US
© 2022 Photonews. All Rights Reserved.
Toshiba's Bailout, Japan Industrial Partners
PhotoNews Pakistan > Business > Toshiba accepts $15.2b buyout proposal
Business

Toshiba accepts $15.2b buyout proposal

Last updated: 2023/03/24 at 2:35 PM
2 Min Read
Share
Photo: Reuters
SHARE

Toshiba Corp’s board accepted a $15.2 billion buyout offer from a group led by private equity firm Japan Industrial Partners, the company said on Thursday, potentially drawing a line under years of upheaval at the conglomerate.

A successful deal, which would value Toshiba at 4,620 yen per share or 2 trillion yen in total, would see the scandal-ridden company taken private and firmly in domestic hands after much tension with overseas activist shareholders. It is, however, not yet clear whether activist funds will be satisfied with the terms. The offer price would give just a 9.7% premium over Thursday’s closing price of 4,213 yen.

Toshiba said in a filing that the board would not go as far as recommending shareholders tender their shares because the offer price is not high enough to give recommendations.

The price was lowered a few times from an initial offer of up to 5,500 yen per share, according to the filing.

It also said the board’s support might change before the JIP group starts the tender offer in late July.

But Toshiba said that the JIP bid is “the only complete proposal” submitted during a one-year competitive auction process and would give shareholders a chance to exit their investments.

“This ends months of uncertainty regarding whether a deal was coming and years of uncertainty regarding board understanding of the right price,” said analyst Travis Lundy of Quiddity Advisers. (Reuters)

TAGGED: Featured
Jaffar Khan March 24, 2023
Share this Article
Facebook Twitter Pinterest Whatsapp Whatsapp LinkedIn Email Copy Link Print
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

Red Sea Shark Attack

Shark Attack Tragedy: Tourist Loses Life While Swimming in Egypt’s Red Sea

"2023 General Elections", "Federal Budget",

Federal Government Allocates Rs42.41 billion for 2023 Elections: Budget Breakdown

"Lahore Anti-Terrorism Cour"t, "PTI Women Workers", "Corps Commander House Attack"

Lahore Anti-Terrorism Court Orders Investigation Report and Jails PTI Women Workers

"Machine Gun Kelly", "Megan Fox", "Relationship Reconciliation", "Breakup Rumors"

Rebuilding Bridges: Megan Fox Supports Machine Gun Kelly Amidst Breakup Rumors

"Brad Pitt", "Angelina Jolie", "legal battle", "Château Miraval",

Brad Pitt and Angelina Jolie: Legal Battle Over Château Miraval Warned to be Next Johnny Depp, Amber Heard Fiasco

"Johnny Depp", "Disney", "Pirates of the Caribbean", "Captain Jack Sparrow"

Johnny Depp Refuses to Reprise Role in Pirates of the Caribbean, Even for $20M

Post Archives

More Popular from Photonews

Pepper Sprays Review
Blog

Pepper Sprays: A Review

13 Min Read
Karachi's Crime Rate
Blog

Guns: Why we need them more then ever before

5 Min Read
Flirty 30, Feel Like A Princess
Blog

Flirty 30: Feel Like A Princess – It’s High Time!

4 Min Read
SportsTop News

Pakistan Won the Toss and Elected to Bat

Pakistan won the toss and elected to bat first against Bangladesh in T-20 World Cup match…

March 30, 2014
Top News

Ex-ECP additional secretary, Afzal Khan endorses Imran Khan’s claim of rigging

Former Additional Secretary of Election Commission Pakistan (ECP) Mohammad Afzal Khan revealed on Sunday that results…

August 25, 2014
PakistanTop News

Bullets carrying American linked to the FBI

An American arrested in Pakistan for trying to board a plane while carrying pistol ammunition is…

May 8, 2014
Entertainment

Dr. Shaista Lodhi is sorry

The host of the widely-watched morning show "Utho Jago Pakistan," Dr. Shaista Lodhi, has come forward…

May 17, 2014
PhotoNews Pakistan

Always Stay Up to Date

Subscribe to our newsletter to get our newest articles instantly!

Categories

  • World
  • Pakistan
  • Punjab
  • Sindh
  • Khyber Pakhtunkhwa
  • Balochistan
  • Azad Jammu Kashmir

 

  • Top News
  • Business
  • Entertainment
  • Sports
  • Videos
  • Tech
  • Offbeat
  • Blog

© 2023 Phototnews
All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?