Toshiba Corp said on Friday a group led by Japan Industrial Partners (JIP) is expected to launch a tender offer for the industrial conglomerate 'sometime in August 2023', a delay from late July.
The logo of Toshiba Corp. is displayed atop of the company's facility building in Kawasaki, Japan June 24, 2022. REUTERS/Issei Kato/File Photosaid on Friday a group led by Japan Industrial Partners is expected to launch a tender offer for the industrial conglomerate "sometime in August 2023", a delay from late July.
Toshiba said in a statement that procedures under foreign competition laws and regulations in some jurisdictions are not expected to be completed until after Aug. 1. The Toshiba board has approved the buyout offer, which values the electronics-to-power stations maker at 2 trillion yen and would put it in domestic hands after years of battles with overseas activist shareholders.
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