- Reuters
Toshiba shareholders to endorse director nominees as buyout expectations grow
Toshiba Corp's shareholders are expected to endorse all proposed directors, including two from its hedge fund investors, on Tuesday in a move that could mark a crossroads for the 146-year-old Japanese conglomerate and hasten a potential buyout. The company has nominated executives from Elliott Management and Farallon Capital Management for approval as outside directors at its annual general meeting, a move designed to end a long-running battle between the company and activist investors. Influential proxy advisers Institutional Shareholder Services Inc (ISS) and Glass Lewis have both recommended voting for their appointments.
- Benzinga
Bidders Offers Value Toshiba Up To $22B: Reuters
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
- Reuters
Exclusive-Bidders weigh offers valuing Toshiba at up to $22 billion -sources
TOKYO/HONG KONG (Reuters) -Bidders for Toshiba Corp are considering offering up to 7,000 yen ($51.41) per share to take the troubled Japanese conglomerate private, three people familiar with the situation told Reuters, valuing the deal at about $22 billion. Toshiba, which is exploring strategic options, said this month it had received eight initial buyout proposals and two for capital alliances that would see it remain listed. The bidders are now discussing an offer price range of up to 7,000 yen a share with Toshiba's shareholders, the people said, representing up to a 27% premium to Toshiba's share price of 5,501 yen as of Wednesday's close.
