Or delisted within the year?!, Trillion yen big news! This giant conglomerate | Toshiba | delisted
Toshiba Corporation of Japan announced on the 7th that a consortium led by domestic funds "Japan Industry Partners" will officially launch a tender offer to acquire it today, with a total amount of approximately 2 trillion yen.
The consortium that will launch an acquisition of Toshiba is composed of over 20 Japanese companies, with a purchase price of 4620 yen per share, slightly higher than Toshiba's closing price on the 7th. As of now, semiconductor manufacturer Rom has announced that it will invest 300 billion yen, and Eurex has announced that it will invest 200 billion yen. The tender offer will end on September 20th, and if the acquirer purchases more than two-thirds of Toshiba's shares, the acquisition will be successfully achieved. Toshiba plans to hold an extraordinary shareholder meeting in late November to discuss the tender offer. If the acquisition plan is approved at the meeting, Toshiba may delist within the year.
In 2015, Toshiba fell into a financial crisis after being exposed for accounting fraud scandals, and was in a state of long-term management chaos and operational difficulties. Toshiba's latest quarterly financial report released on the 7th showed that from April to June this year, the company had a net loss of 25.3 billion yen, approximately 1.28 billion yuan. In recent years, Toshiba has repeatedly reported merger and restructuring plans, all of which have failed. In March of this year, Toshiba's board of directors expressed its readiness to accept the acquisition proposal led by a consortium of "Japanese Industry Partners".