Toshiba discusses acquisition bid
Trading in the company’s stock was halted following the announcement
Stocks impacted: Toshiba Corp. (6502)
The Tokyo-based technology conglomerate confirmed it had received a preliminary acquisition proposal from private equity firm CVC Capital Partners. Following the announcement, trading in Toshiba stock was halted Wednesday as buy orders overwhelmed sell orders. CVC Capital Partners is looking into acquiring the company for $18 billion. CVC is an international private equity and credit company, managing more than 300 investors. The firm is headquartered in Luxembourg, and its main office is in London. If they accepted the current offer it would still be the biggest private equity-led deal in Asia Pacific this year. For the nine months through December, Toshiba returned to a profit of $396 million. The conglomerate reports results for the fiscal year in May.
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