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Search resuls for: "Makiko Yamazaki Takaya Yamaguchi"


2 mentions found


☆ Fate of management at Japan's Toshiba a cause of friction for bidders and banks, sources say
  + stars: | 2022-11-06 | by ( Mayu Sakoda Makiko Yamazaki Takaya Yamaguchi | Mayu Sakoda | Makiko Yamazaki | ) www.reuters.com   time to read: +4 min
Differences over JIP's plan to retain Toshiba CEO Taro Shimada and his team were a source of friction between the two bidders, according to two sources familiar with the talks. Despite being selected as preferred bidder, JIP has struggled to secure enough equity commitments from potential partners, sources have said. It now looks set to miss a Monday deadline to deliver a firm proposal that includes letters of commitment from banks, sources have said. In late October, JIC expanded the size of its buyout fund to 900 billion yen ($6.11 billion) from 200 billion yen. Two of the sources said the expansion was not just for a Toshiba buyout but also aimed at other deals.
☆ Exclusive: Toshiba's preferred bidder offers price short of key 6,000 yen a share, sources say
  + stars: | 2022-10-18 | by ( Makiko Yamazaki Takaya Yamaguchi | Makiko Yamazaki | Takaya Yamaguchi | ) www.reuters.com   time to read: +3 min
The logo of Toshiba Corp is displayed atop of the company's facility building in Kawasaki, Japan, June 24, 2022. JIP's initial offer was below 6,000 yen per share, the two sources told Reuters, putting the value of a potential tender offer at less than 2.6 trillion yen ($17.5 billion). Investors have considered 6,000 yen to be a key threshold. During a strategic review last year, at least one global private equity firm told Toshiba's review committee that a deal to take the conglomerate private could be done at 6,000 yen a share or more. In Japan, the court-led rehabilitation of auto parts supplier Marelli Holdings Co Ltd - owned by U.S. private equity firm KKR & Co Inc (KKR.N) - has turned banks cautious about terms for financing leveraged buyouts, private equity sources said.
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