Toshiba about to be acquired by a conglomerate of Japanese companies
It is undoubtedly the beginning of a new adventure which is announced for Toshiba, a Japanese company that was once a pioneer in the laptop sector and has been struggling for years in endless financial difficulties. If we believe the Nikkei Asia, Toshiba would therefore have accepted the takeover offer from the conglomerate Japan Industrial Partners (JIP). The decision to accept the takeover was reportedly taken at the last meeting of Toshiba’s board of directors.
JIP’s takeover offer would amount to 15.3 billion dollars, but it will still take some time for the deal be fully effective. Following the green light from Toshiba, JIP would indeed launch a takeover bid and privatize the company, without forgetting to apply in order to remain within the nails of international antitrust rules. It is only after all these steps that JIP will be able to buy back the shares of Toshiba and thus officially become the owner of the group.
As a reminder, JPI had made a first takeover offer last November. The conglomerate has about twenty companies, all Japanese, including Orix, Chubu Electric Power and Rohm. Several banks have also backed the takeover project, which should facilitate Toshiba’s deleveraging and (perhaps) avoid further losses.
