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Toshiba accepts $15bn buyout bid from JIP

Toshiba accepts $15bn buyout bid from JIP

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By Nick Flaherty



Toshiba has accepted a $15.3bn bid from Japan Industrial Partners, a fund leading a consortium of 20 companies including financial services group Orix, Chubu Electric Power and chipmaker Rohm.

The bid is a tiny premium to the $14.8bn valuation of the group, which has been going through restructuring over the last eight years after an accounting scandal.

The Japanese fund has previously acquired assets from groups such as Sony Vaio PC business and Olympus,

JIP will now proceed with the application process which includes global regulators. After approval, JIP will look to purchase shares from existing shareholders and take Toshiba private.

www.jipinc.com; www.toshiba.com

 

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