20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Toshiba Corp (OTC:TOSBF) (OTC:TOSYY) board reportedly recommends shareholders take up a tender offer from a group led by Japan Industrial Partners.
The $14 billion buyout will take the Japanese conglomerate private. The tender offer is expected to launch in late July.
In March, Toshiba accepted a buyout offer from the group. The bidding group led by Japanese fund Japan Industrial Partners (JIP) Inc includes domestic firms.
In light of unfavorable circumstances, such as the sluggish leveraged loan market and increased interest rates, the board concluded on Thursday that the price was "fair and reasonable," with no prospects of a better offer or rival bid, reported Reuters.
The industrial conglomerate's value was put at 2 trillion yen ($14.31 billion) by the takeover bid, which the board felt that the offer price of 4,620 yen per share was too low to encourage shareholders to submit their shares, added the report.
Further, the report noted Toshiba believes the buyout would help build "a stable management base to implement a consistent business strategy to reform and grow the company over the medium to long term."
Price Action: TOSYY shares closed lower by 0.62% at $16.10 on Wednesday.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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