Toshiba Bags Interest From 10 Potential Investors: Reuters

  • Toshiba Corp TOSYY bagged interest from 10 potential investors after canvassing buyout offers, Reuters reports.
  • The deadline for submitting non-binding proposals is May 30.
  • Also Read: Toshiba To Weigh Deals To Go Private
  • Long under pressure from activist shareholders, the Japanese conglomerate also announced a special dividend worth $545 million for the second consecutive year.
  • Toshiba, bedeviled by accounting and governance crises since 2015, set up a special committee to explore strategic options, including potential deals to go private after shareholders voted down a management-backed restructuring plan.
  • The report noted U.S. private equity firms Bain, Blackstone Inc. BX, and KKR & Co. Inc. KKR were considering a bid for Toshiba.
  • Price Action: TOSYY shares closed higher by 1.71% at $20.83 on Thursday.

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