HomeIndustriesToshiba Going Private After $14 Billion Takeover

Toshiba Going Private After $14 Billion Takeover

Electronics conglomerate Toshiba Corporation announced on Thursday that the company is set to go private after the success of a $14 billion tender offer from private equity firm Japan Industrial Partners (JIP). The private equity firm’s offer sees them acquire a 78.65% share of Toshiba; over two-thirds majority in the electronics giant. Toshiba’s shares rose 0.2% to 4,606 yen ($31) in Tokyo on Thursday.

Following years of battles with overseas investors, this deal sees Toshiba get placed in local hands. The JIP-led consortium’s buyout has valued Toshiba at 2 trillion yen ($13.5 billion). While some shareholders were dissatisfied with the bid, analyst Travis Lundy of Quiddity Advisors acknowledged that it has helped the electronics manufacturer to escape a deadlock.

“Activist shareholders and Toshiba were stuck with each other for years. This takeover allows both sides to escape their mutual bearhug,” Lundy observed. Toshiba is set to be de-listed from the Tokyo Stock Exchange in December.

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