Toshiba to go private as $13.5 billion buyout offer by JIP succeeds
A 2 trillion yen ($14 billion) tender offer for troubled electronics and energy giant Toshiba by a Japanese consortium has been completed, clearing the way for it to be delisted, the company said Thursday.
In the tender offer, announced last month and ended Wednesday, the number of shares purchased exceeded the minimum needed, at 78.65%, it said.
The switch to Toshiba’s new parent company and largest shareholder, called TBJH Inc. will take place on Sept. 27. The move still needs shareholders’ approval, and a meeting has been set for November, according to Toshiba.
