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Benzinga
Benzinga
Business
Anusuya Lahiri

Toshiba To Weigh Deals To Go Private

Toshiba NYSE TOSYY Bain Capital
  • Toshiba Corp (OTC:TOSYY) looks to assess potential bids from private equity and other investors to take the Japanese conglomerate private, the Financial Times reports.
  • The new committee assessing the bids will include the group's six existing independent directors, Tiga Investments founder Raymond Zage and the former Noble Group executive chair Paul Brough. 
  • Toshiba will likely receive its first proposal from Bain Capital which recently won qualified support for a buyout deal from Toshiba's largest shareholder, Singaporean investment fund Effissimo. 
  • Also Read: Here's How Toshiba Looks To Restructure Itself
  • The deal came with its political and technical challenges, FT notes. 
  • Several senior figures did not consider it the best route to resolve years of business turmoil and deepening deadlock with activist shareholders.
  • A strategic review committee convened in 2021 discussed potential buyout deals with PE firms, including KKR & Co Inc (NYSE:KKR), Blackstone Inc (NYSE:BX), and Brookfield.
  • Price Action: TOSYY shares closed at $20.54 on Thursday.
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