Toshiba's 74-Year Stock Market History Ends with $14 Billion Delisting Deal
TL;DR Summary
Toshiba has announced the success of a $14 billion tender offer from private equity firm Japan Industrial Partners (JIP), paving the way for the embattled conglomerate to go private. The JIP-led consortium secured over two-thirds of Toshiba shares, allowing them to squeeze out remaining shareholders and delist the company as early as December. The deal marks the largest M&A deal in Japan this year and puts Toshiba in domestic hands after years of battles with overseas activist investors. JIP plans to retain CEO Taro Shimada and aims to improve morale and investor confidence in Toshiba's future.
- Toshiba is set to delist in Japan after 74 years as part of $14 billion deal CNN
- Japan's Toshiba set to end 74-year stock market history BBC
- Japan's troubled Toshiba to delist after takeover by Japanese consortium succeeds The Associated Press
- Toshiba Shareholders Approve $13.5 Billion Deal to Take Company Private The Wall Street Journal
- Toshiba succeeds at selling itself, delisting set for September 27 The Register
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