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Name | Symbol | Market | Type |
---|---|---|---|
Toshiba Corp (CE) | USOTC:TOSYY | OTCMarkets | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 14.92 | 0.00 | 01:00:00 |
By Kosaku Narioka
Bain Capital said Thursday that there are many challenges to solve before considering taking Toshiba Corp. private.
The U.S. private-equity firm said in a statement on its website that it needed to continue careful talks with Toshiba's management, the Japanese government, financial institutions and other stakeholders.
Bain said that nothing had been decided about a possible tender offer for the Japanese industrial company.
Bain made the comments after a major Toshiba shareholder, Effissimo Capital Management Pte. Ltd., said in a regulatory filing that it would tender its stake if Bain starts a tender offer for Toshiba. Effissimo holds a 9.9% stake in the company, according to the filing.
Earlier this month, Toshiba shareholders rejected a management plan to split the company into two parts, reflecting strong opposition from foreign shareholders.
Toshiba board members have said they had contacts with potential private-equity investors, but never received a concrete offer for the whole company.
Write to Kosaku Narioka at kosaku.narioka@wsj.com
(END) Dow Jones Newswires
March 31, 2022 05:12 ET (09:12 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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