Toshiba gives detailed discussions on acquisitions that are meaningful only after option reviews


Tokyo — Toshiba said Wednesday that detailed discussions on potential private transactions only made sense after all strategic options had been carefully considered and called on some shareholders to begin soliciting buyout bids. Stated.

The statement was issued when a Japanese industrial conglomerate was exploring new strategic ideas with financial and strategic investors, including KKR & Co Inc and three other global private equity firms.

However, the latest process is not intended to formally solicit buyout bids for the entire company or part of its assets, questioning why the company has not initiated an official solicitation process. Sources say it is confusing the department’s investors.

In its statement, the Board should first focus on Toshiba’s strategic review to understand potential investor approaches to increasing corporate value.

“The Board believes that meaningful and informed discussions on pricing are most productive after the discussion on value enhancement has been completed satisfactorily.”

“Therefore, the board has not yet decided on the most appropriate course of action and continues to seek viable strategic alternatives,” he added.

Toshiba has begun a complete review of its current assets after rejecting a $ 20 billion takeover bid from CVC Capital Partners for lack of details. The results of the review will be announced when the company announces a new medium-term business plan in October.

Makiko Yamazaki