Toshiba is turning the page on a painful chapter. A group led by local buyout company Japan Industrial Partners plans to take the 147-year-old conglomerate private. The consortium will launch a $14bn tender offer on Tuesday.
The offer, which values the electronics-to-power stations maker at ¥2tn ($14bn), would be slightly higher than its ¥1.99tn market value on Monday. That indicates the deal will go through.
When Toshiba first received a buyout proposal from the consortium in February, the price was at a discount to Toshiba’s market value. The ¥4,620-per-share offer price would normally have been too low for shareholders to take seriously. They have struggled through an eight-year succession of activist battles and accounting scandals, spurning previous buyout offers.