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Japan Industrial Partners

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business2 years ago

Toshiba's 74-Year Stock Market History Ends with $14 Billion Delisting Deal

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.

via CNN|
#business#delisting#japan-industrial-partners
business2 years ago

Toshiba's $14 bln takeover bid by JIP triumphs

Toshiba has announced that a $14 billion tender offer from private equity firm Japan Industrial Partners (JIP) has been successful, allowing the embattled industrial conglomerate to go private. The JIP-led consortium secured 78.65% of Toshiba shares, giving them a majority of over two-thirds, which will enable them to squeeze out remaining shareholders. The deal puts Toshiba in domestic hands after years of battles with overseas activist shareholders. JIP plans to retain CEO Taro Shimada and his management team.

via Reuters|
#business#japan-industrial-partners#private-equity
business2 years ago

JIP's $14 Billion Tender Offer Poised for Success in Toshiba Acquisition

Private equity firm Japan Industrial Partners (JIP) has announced that its $14 billion tender offer to take Toshiba private is set to succeed, marking Japan's biggest deal this year. The offer, which closed on Wednesday, signifies the end of Toshiba's 74-year history as a listed firm and puts the company in domestic hands. JIP expects at least two-thirds of shareholders to have tendered their shares, and the final results will be announced once finalized. With a two-thirds majority, JIP plans to squeeze out remaining shareholders and delist Toshiba shares as early as December.

via Reuters|
#business#delisting#japan-industrial-partners
business2 years ago

Toshiba's Troubles: Japan Businesses Lead $14 Billion Buyout Offer

Toshiba has announced a 2 trillion yen ($14 billion) tender offer led by a buyout fund called Japan Industrial Partners, in an effort to take the scandal-hit company private and turn its fortunes around. The offer, priced at 4,620 yen ($32) a share, starts on Tuesday. Toshiba also reported a 25 billion yen ($176 million) loss for the April-June quarter. At least two-thirds of shareholders must offer their stakes for the bid to succeed, but some overseas activist investors have expressed dissatisfaction. If successful, the buyout would allow Toshiba to delist from the Tokyo Stock Exchange and maintain an alliance with Japanese partners.

via The Associated Press|
#business#buyout-offer#japan-industrial-partners
business2 years ago

Toshiba agrees to $15B takeover bid.

Toshiba has accepted a $15 billion tender offer from Japan Industrial Partners, a buyout fund made up of major Japanese banks and companies. The bid will allow Toshiba to go private and delist from the Tokyo Stock Exchange. The consortium includes about 20 Japanese companies, such as Orix Corp. and Rohm Co. Toshiba has been dealing with controversy for years, starting with an accounting scandal in 2005 and its U.S. nuclear arm Westinghouse filing for bankruptcy in 2017. The latest proposal still needs to go through regulatory reviews in several countries.

via Fox Business|
#business#buyout#electronics
business2 years ago

Toshiba accepts $15B buyout offer amidst scandal and doubts.

Toshiba has accepted a $15 billion tender offer from Japan Industrial Partners, a buyout fund made up of major banks and companies, which would allow it to go private and delist from the Tokyo Stock Exchange. The move comes as part of Toshiba's yearslong turnaround effort, following a sprawling accounting scandal in 2015 and the bankruptcy of its US nuclear arm Westinghouse in 2017. However, it is unclear if overseas activist investors, who own a significant part of Toshiba's shares, will be happy with the latest bid. The proposal still needs to go through regulatory reviews in several countries.

via The Associated Press|
#business#delisting#japan-industrial-partners
business2 years ago

Toshiba Board Approves $15 Billion Buyout Proposal from Japan Investors.

Toshiba's board has accepted a $15.2 billion buyout offer from a group led by private equity firm Japan Industrial Partners, potentially ending years of upheaval at the conglomerate. The offer price would give just a 9.7% premium over Thursday's closing price of 4,213 yen. It is not yet clear whether activist funds, which are estimated to own roughly a quarter of the company, will be satisfied with the terms. Some 20 Japanese companies plan to take part in the deal, which would be the third-largest M&A transaction globally so far this year.

via Reuters|
#business#buyout#japan-industrial-partners