Toshiba to go private as board accepts $15 bn takeover bid: reports
Toshiba, the Japanese multinational conglomerate, has reportedly agreed to a $15 billion takeover bid from a private equity firm, which will take the company private.
The decision was made by Toshiba's board of directors after months of negotiations with several potential buyers. The private equity firm, whose name has not been disclosed, is said to have offered a premium price for Toshiba's shares.
The move to go private is seen as a way for Toshiba to restructure and focus on its core businesses, which include energy, infrastructure, and electronic devices. The company has been struggling in recent years, with losses in its nuclear power business and accounting scandals.
Going private will also allow Toshiba to avoid the scrutiny and pressure of public markets, and give it more flexibility to make strategic decisions without having to answer to shareholders.
The deal is expected to be completed by the end of the year, pending regulatory approval.
This news comes after a series of high-profile acquisitions in the tech industry, including Microsoft's acquisition of LinkedIn and Verizon's acquisition of Yahoo. It remains to be seen how Toshiba's move to go private will impact the industry as a whole.
https://www.lifetechnology.com/blogs/life-technology-technology-news/toshiba-to-go-private-as-board-accepts-15-bn-takeover-bid-reports
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