- Toshiba Corp (OTC:TOSYY) looks to assess potential bids from private equity and other investors to take the Japanese conglomerate private, the Financial Times reports.
- The new committee assessing the bids will include the group's six existing independent directors, Tiga Investments founder Raymond Zage and the former Noble Group executive chair Paul Brough.
- Toshiba will likely receive its first proposal from Bain Capital which recently won qualified support for a buyout deal from Toshiba's largest shareholder, Singaporean investment fund Effissimo.
- Also Read: Here's How Toshiba Looks To Restructure Itself
- The deal came with its political and technical challenges, FT notes.
- Several senior figures did not consider it the best route to resolve years of business turmoil and deepening deadlock with activist shareholders.
- A strategic review committee convened in 2021 discussed potential buyout deals with PE firms, including KKR & Co Inc (NYSE:KKR), Blackstone Inc (NYSE:BX), and Brookfield.
- Price Action: TOSYY shares closed at $20.54 on Thursday.
