{"id":58713,"date":"2023-09-21T17:17:30","date_gmt":"2023-09-21T09:17:30","guid":{"rendered":"https:\/\/www.imoney.my\/articles\/?p=58713"},"modified":"2023-09-21T17:17:30","modified_gmt":"2023-09-21T09:17:30","slug":"toshiba-private-14-billion-takeover","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/toshiba-private-14-billion-takeover","title":{"rendered":"Toshiba To Go Private After US$14 Billion Takeover Bid Succeeds"},"content":{"rendered":"

Toshiba Corporation, the Japanese electronics conglomerate, will end its 74-year run as a listed company and will rebuild itself as a private firm, following a statement released today by the company.<\/a><\/p>\n

The transition came as a result of a successful takeover by private equity firm Japan Industrial Partners (JIP). The takeover bid amounted to a tender offer of 2 trillion yen ($14 billion) and the firm owning 78.65% of Toshiba\u2019s shares.<\/p>\n

Owning more than two-thirds of the company allows the group to complete a $14 billion deal and take it private.<\/p>\n

Through the deal, the 148-year-old electronic-to-power-stations maker’s shares could be taken off the stock market<\/a> as early as the end of the year.<\/p>\n

While the company had accepted the buyout back in March, it had to deal with investors<\/a> and shareholders who were unhappy with the price. Toshiba, however, argued that there was no prospect of a higher offer or competing and had to ultimately accept the deal.<\/p>\n

\u201cWe are deeply grateful to many of our shareholders for being understanding of the company’s position,” said chief executive officer Taro Shimada in the statement given and added that the company will \u201cnow take a major step toward a new future with a new shareholder\u201d.<\/p>\n

Read more: Pound Sterling Continues To Struggle As It Remains At Three-Month Low<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

One of Japan\u2019s oldest and biggest firms ends its 74-year stock market history.<\/p>\n","protected":false},"author":47,"featured_media":58724,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[271,1,216],"tags":[1518,1520,601,1310,1080,1517,1309,1519,1516],"class_list":["post-58713","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-investment","category-news-updates","tag-buyout","tag-corporate-takeover","tag-electronics","tag-investors","tag-japan","tag-shareholders","tag-shares","tag-takeover","tag-toshiba"],"acf":[],"yoast_head":"\nToshiba Goes Private After $14 Billion Takeover<\/title>\n<meta name=\"description\" content=\"Japanese electronics giant Toshiba announces its decision to turn private after a successful takeover that amounted to $14 billion.\" \/>\n<meta name=\"robots\" content=\"index, follow, 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