A Tender Offer to Take Toshiba Private Will Launch Today

Japan’s Toshiba said on Monday a $14 billion tender offer to take the industrial conglomerate private will be launched on Tuesday – an effort that will, if successful, buy out activist investors and return it to domestic hands.

Toshiba’s board initially said private equity firm Japan Industrial Partners’ 4,620 yen-per-share ($32.44) bid was too low to recommend to shareholders. But it later concluded the price was “fair” as there were no prospects of a higher offer amid unfavourable economic conditions.

At least two-thirds of shareholders will need to tender their shares for the bid to succeed. Although the outcome is not clear, a successful bid would help draw a line under years of upheaval for Toshiba.

Read the source article at Yahoo