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Benzinga

Business

Shivani Kumaresan

Bidders Offers Value Toshiba Up To $22B: Reuters

Toshiba NYSE TOSYY Apollo Global Management Bain Capital Baring Private Equity Asia .Blackstone Inc. Brookfield Asset Management Inc BX CVC Capital Partners

Potential buyers for Japanese conglomerate Toshiba Corp (OTC:TOSYY) are mulling offering up to 7,000 yen ($51.41) per share, Reuters reported.
The offer price, if realized, will value the company at about $22 billion, representing a 27% premium to Toshiba's share price of 5,501 yen as of Wednesday's close.
Related: Toshiba Gets Privatization Proposals - Guess How Many Are Interested
KKR & Co. Inc (NYSE:KKR), Baring Private Equity Asia, Blackstone Inc. (NYSE:BX), Bain Capital, Brookfield Asset Management Inc (NYSE:BAM), MBK Partners, Apollo Global Management, and CVC Capital Partners are some of the bidders, according to Reuters.
Toshiba has been facing an operational crisis since 2015 when it disclosed accounting malpractice.
Price Action: TOSYY shares closed higher by 9.90% at $22.42 on Wednesday.
Photo Via Wikimedia Commons

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