Private equity fund Japan Industrial Partners Inc.’s successful tender offer for Toshiba Corp. paves the way for a ¥2 trillion ($13.5 billion) buyout that would end the electronics group’s 74-year-long run as a listed entity.
Toshiba, whose roots go back to 1875, said Thursday the JIP-led consortium now holds 78.65% of all its shares. That clears the way for the domestic fund to squeeze out the remaining shareholders and take full control of the company in what is set to be Japan’s biggest deal this year.
Source: Fortune
