Shares in Toshiba Corp on Thursday surged on a report that a domestic investor-led group was looking at a $19 billion bid - a potential deal that would likely lead to foreign activist shareholders being bought out after years of tension.
Toshiba logos are pictured at Toshiba Corp's annual general meeting with its shareholders in Tokyo, Japan, June 25, 2021. REUTERS/Kim Kyung-Hoon/File Photoon Thursday surged on a report that a domestic investor-led group was looking at a $19 billion bid - a potential deal that would likely lead to foreign activist shareholders being bought out after years of tension.
has been given preferred bidder status in the second round of bidding, Kyodo news agency and other media have reported.Register now for FREE unlimited access to Reuters.comThe shares were up 7% in afternoon trade, on track for their biggest one-day gain in more than a year. They have risen some 17% this year.
The consortium will put up around 1 trillion yen in equity, with the rest of the money likely to come from bank loans, Kyodo said, adding that financing talks were ongoing and the offer value could change depending on future movements of Toshiba's stock price.
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