FILE PHOTO: The logo of Toshiba Corp. is displayed atop of the company’s facility building in Kawasaki, Japan June 24, 2022. REUTERS/Issei Kato/File Photo
Toshiba’s largest shareholder Effissimo Capital Management has decided to tender shares in the takeover offer led by Japan Industrial Partners (JIP), a source familiar with the matter said on Friday.
Effissimo has 9.89% stake in Toshiba, according to a document filed to Japan’s financial regulator on Thursday.
JIP, a private-equity firm, launched a 4,620 yen-per-share bid to take the industrial conglomerate private last month. It closes on Sept. 20.
At least two-thirds of shareholders need to tender their shares for the bid to succeed.
Reuters
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