(Bloomberg) — Private equity fund Japan Industrial Partners Inc.’s successful tender offer for Toshiba Corp. paves the way for a ¥2 trillion ($13.5 billion) buyout that would end the electronics group’s 74-year-long run as a listed entity. Most Read from Bloomberg‘Dead Space’ Co-Creator Departs Startup After Newest Game FlopsVegas’ Newest Resort Is a $3.7 Billion Palace, 23 Years in the MakingFed Set to Pause Rate Hikes, But Don’t Count Out Another IncreaseNearly Half of All Young Adults Live W
Private equity fund Japan Industrial Partners Inc.’s successful tender offer for Toshiba Corp. paves the way for a ¥2 trillion ($13.5 billion) buyout that would end the electronics group’s 74-year-long run as a listed entity.
Toshiba, whose roots go back to 1875, said Thursday the JIP-led consortium now holds 78.65% of all its shares. That clears the way for the domestic fund to squeeze out the remaining shareholders and take full control of the company in what is set to be Japan’s biggest deal this year.
The Tokyo-based company’s delisting from the Tokyo Stock Exchange would close a troubled decade at the firm, marked by scandal, crippling losses and clashes with activist shareholders that have slowed the company’s ability to innovate.
