Toshiba says JIP's $14 bln tender offer set to succeed (updated)

Rohm Co

20/09/2023 11:27

(Adds details)
       TOKYO, Sept 20 (Reuters) - A $14 billion tender offer to
take Toshiba  6502.T  private is set to succeed, the Japanese
company said on Wednesday, clearing a way for Japan's biggest
deal this year.
        Toshiba has received a report from the buyer, a group
led by Japan Industrial Partners (JIP), that the tender offer
"is forecasted to be successful," the company said.
  
        JIP, a private equity firm, launched a 4,620 yen
($31.24) per share bid to take Toshiba private last month, a
move that would put the electronics-to-power stations maker in
domestic hands after years of battles with overseas activist
shareholders.
  
        The offer, which ended on Wednesday, needed at least
two-thirds of shareholders to tender their shares for it to
succeed.
  


($1 = 147.9100 yen)

 (Reporting by Makiko Yamazaki and Tokyo Newsroom, Editing by
Louise Heavens)
 ((kaori.kaneko@thomsonreuters.com;))