Tokyo Reuters —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 embattled industrial conglomerate to go private.
The deal puts the 148-year-old electronics-to-power stations maker in domestic hands after years of battles with overseas activist investors.
Toshiba in March accepted the buyout offer valuing the industrial conglomerate at 2 trillion yen ($13.5 billion).
Although some shareholders were unhappy with the price, Toshiba argued that there was no prospect of a higher offer or competing bid.
It will mark the largest M&A deal in Japan this year.
Persons:
—, ”, Travis Lundy, Taro Shimada, Toshiba “, Shimada, “, ” Lundy, JIP, chipmaker Rohm
Organizations:
Tokyo Reuters, Toshiba, Japan Industrial Partners, “, Quiddity Advisors, ” Toshiba, Sony, Chubu Electric Power
Locations:
Tokyo, Orix, Japan, Asia