Key Points
TOKYO: Toshiba Corp accepted a $15.3 billion buyout offer from a. , the Nikkei newspaper reported, as the iconic conglomerate moved a step closer to ending a troubled chapter in its more-than-140-year history...
The Tokyo-based companys board approved on Thursday a bid of about 2 trillion yen ($15.3 billion) from a group led by domestic private equity firm Japan Industrial Partners Inc., the report said, without attribution...
The move could bring down the curtain on years of turbulence at the storied Japanese firm after a series of scandals plunged it into difficulty and set it on the path to a sale..
Toshibas management, the Japanese government and the companys unusually large proportion of vocal foreign shareholders have been at odds over the companys future, with activist investors seeking to maximize returns while the state prioritized keeping sensitive technologies and businesses out of foreign hands...
Early last year, stock holders rejected a proposal by management to split the company in two, which had been put forward as an alternative to selling the conglomerate to private equity, which investors had called for..
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