On June 23, Reuters quoted three people familiar with the matter as saying that buyers bidding for Toshiba are considering taking it private at a price of up to 7,000 yen (about 51.41 US dollars) per share, in a transaction valued at about 22 billion dollar.
July 25, 2022
On June 23, Reuters quoted three people familiar with the matter as saying that buyers bidding for Toshiba are considering taking it private at a price of up to 7,000 yen (about 51.41 US dollars) per share, in a transaction valued at about 22 billion. Dollar.
Affected by the above news, the share price of Toshiba (6502.T) rose by more than 6% in early trading, and then narrowed to 4.4% at 5,745 yen.
The old Japanese company has been in trouble in recent years and is currently making new strategic choices. Earlier this month, Toshiba had received eight preliminary acquisition proposals and two capital alliance proposals, the latter of which would maintain Toshiba’s status as a listed company.
The price of 7,000 yen per share is 27% higher than Toshiba’s closing share price of 5,501 yen on the 22nd. However, another person familiar with the matter said the offer was wide-ranging and came with various conditions attached.
According to reports, KKR, Baring Asia, Blackstone, Bain, Brookfield Asset Management, Ambrose, Apollo Global Management and CVC Capital have submitted preliminary bids. Some of them may form a consortium to bid.
It is reported that domestic funds including Japan Investment Corp. and some strategic players are considering how to participate in the deal.