Japanese activist investor-backed fund launches up to $235 mln bid for Toshiba Machine

Shibaura Machine

21/01/2020 24:26

TOKYO, Jan 21 (Reuters) - An investment fund backed by
veteran Japanese activist investor Yoshiaki Murakami announced
it will launch on Tuesday an up to  $235 million takeover bid
for Toshiba Machine Co Ltd  6104.T , a former Toshiba Corp
 6502.T  subsidiary.
    The fund will offer 3,456 yen per Toshiba Machine share to
buy up to 7.5 million shares, spending up to 25.9 billion yen
($235 million). The offer price compares to Toshiba Machine's
Monday close of 3,705 yen.
 ($1 = 110.1900 yen)

 (Reporting by Kiyoshi Takenaka; Editing by Himani Sarkar)
 ((kiyoshi.takenaka@thomsonreuters.com; +81 3 4563 2788;))