Toshiba says $14 billion takeover approved by shareholders
Toshiba said on Thursday that a $14 billion tender offer from private equity firm Japan Industrial Partners (JIP) had ended in success - a deal which paves the way for the industrial conglomerate to go private, according to multiple major and international news outlets.
The JIP-led consortium saw 78.65% of Toshiba shares tendered, giving the group a majority of more than two-thirds which would be enough to squeeze out remaining shareholders.
The deal puts the 148-year-old electronics-to-power stations maker in domestic hands after years of battles with overseas activist investors. Toshiba is set to be delisted as early as in December.
Electrical Apparatus will provide more information on the matter as it develops.