Toshiba Says a $14 Billion Takeover Bid by JIP Has Ended in Success

Toshiba said on Thursday that a $14 billion tender offer from private equity firm Japan Industrial Partners (JIP) had ended in success – a deal which paves the way for the embattled industrial conglomerate to go private.

The JIP-led consortium saw 78.65% of Toshiba shares tendered, giving the group a majority of more than two-thirds which would be enough to squeeze out remaining shareholders.

The deal puts the 148-year-old electronics-to-power stations maker in domestic hands after years of battles with overseas activist investors. Toshiba is set to be delisted as early as in December.

Read the source article at Yahoo