Toshiba clears path for big 2022 Japanese buyouts
22/12/2021 01:23
(The author is a Reuters Breakingviews columnist. The opinions
expressed are his own.)
By Jeffrey Goldfarb
MELBOURNE, Dec 22 (Reuters Breakingviews) - The $18 bln
conglomerate plans to split, but a takeover bid betrayed private
equity’s voracious appetite in the country. A few dozen chunky
companies suit the LBO financial model, per a Breakingviews
analysis. Closer inspection suggests a tempting target among
them is Ricoh.
Full view will be published shortly.
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CONTEXT NEWS
- Following a strategic review, Toshiba said on Nov. 12 it
would split itself into three units by spinning off its energy
and infrastructure division as well as its device and storage
business. The remaining company would hold its stake in
memory-chip maker Kioxia and its controlling stake in Toshiba
Tec.
- In April, the company dismissed a $20 billion buyout offer
from CVC Capital Partners as lacking detail.
(Editing by Rob Cox and Thomas Shum)
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