Toshiba is set to delist in Japan after 74 years as part of $14 billion deal

TOKYO, Sep 21 (CNN) - 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 JIP-led consortium saw 78.65% of Toshiba shares tendered, giving the group a majority of more than two-thirds which would be enough to squeeze out remaining shareholders.

The deal puts the 148-year-old electronics-to-power stations maker in domestic hands after years of battles with overseas activist investors. Toshiba is set to be delisted as early as in December.

It will mark the largest M&A deal in Japan this year. Japan has been the only major market in Asia to have seen growth in mergers and acquisitions for the year to date, according to LSEG data.

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Sep 21 (ANNnewsCH) - 東芝に対して実施されていたTOB=株式公開買い付けが成立しました。年内にも上場廃止となる見通しです。  ...continue reading