Toshiba tender offer pushed back to Aug due to regulatory delay (updated)

Orix

28/07/2023 08:14

(Adds details, context)
       TOKYO, July 28 (Reuters) - Toshiba Corp  6502.T  said on
Friday a group led by Japan Industrial Partners (JIP) is
expected to launch a tender offer for the industrial
conglomerate "sometime in August 2023", a delay from late July.
    Toshiba said in a statement that procedures under foreign
competition laws and regulations in some jurisdictions are not
expected to be completed until after Aug. 1.
    The Toshiba board has approved the buyout offer, which
values the electronics-to-power stations maker at 2 trillion yen
($14.35 billion) and would put it in domestic hands after years
of battles with overseas activist shareholders.
    Some 20 Japanese companies, including financial services
firm Orix  8591.T  and chipmaker Rohm Co  6963.T , plan to take
part in the deal led by private equity firm JIP.  urn:newsml:reuters.com:*:nL4N3800MH
    The buyout group will promptly make an announcement when the
conditions for the tender offer are fulfilled, or when there is
any further change in the expected schedule, Toshiba said. 
($1 = 139.4000 yen)

 (Reporting by Makiko Yamazaki; Editing by Tom Hogue and Edmund
Klamann)
 ((Makiko.Yamazaki@thomsonreuters.com; +81-3-4563-2805;))