(Be sure to read that the offer is bn, not 15 bn)
TOKYO (Reuters) – Toshiba said on Monday that the consortium led by private equity firm Japan Industrial Partners (JIP) would launch its $14 billion (12.74 billion euros) takeover bid on Tuesday, which is one of the largest deals globally since the start of the year.
The offer, which values the Japanese industrial conglomerate at 2,000 billion yen, will be finalized on September 20.
It was originally supposed to be launched at the end of July but was postponed due to regulatory issues.
Toshiba’s board of directors announced in March that it had reached an agreement with JIP after weeks of discussions within the group.
Toshiba, a sprawling conglomerate whose businesses range from nuclear power to defense technologies and which owns 40% of memory chipmaker Kioxia Holdings, has been in turmoil since 2015 due to scandals over its accounts and corporate governance , heavy losses as well as friction with activist shareholders that led to a strategic review.
(Report Makiko Yamazaki, Blandine Hénault for the French version, edited by Nicolas Delame)
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