Toshiba Corp's auction was supposed to ignite a race for top-dollar bids among global private equity firms. Instead, it brought months of uncertainty and a solitary, scaled-back offer from the company's business partners in Japan.
A reporter raises his hand for a question during a Toshiba news conference at the company headquarters in Tokyo, Japan June 23, 2017. REUTERS/Issei Kato/File Photoauction was supposed to ignite a race for top-dollar bids among global private equity firms. Instead, it brought months of uncertainty and a solitary, scaled-back offer from the company's business partners in Japan.
Major activist shareholders are expected to exit, people familiar with the matter said. Some, including top shareholder Effissimo Capital Management, could make huge profits, having bought their shares cheaply in a 2017 bailout. "It has been a complete mess," said analyst Mio Kato of LightStream Research, which publishes on Smartkarma.
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