Toshiba Machine opposes takeover bid by activist investor Murakami

Shibaura Machine

12/02/2020 08:32

TOKYO, Feb 12 (Reuters) - Japan's Toshiba Machine  6104.T 
said on Wednesday it would officially oppose a takeover offer by
activist investor Yoshiaki Murakami and hold a shareholders
meeting on March 27 to seek approval for the adoption of defence
measures.
    The former Toshiba Corp  6502.T  unit said the decision is
based on a conclusion drawn up by an independent committee that
discussed Murakami's proposal.
    A takeover by Murakami is likely to hurt corporate and
shareholder value, the molding machine company said. Murakami
last month launched a bid of up to $235 million for control of
the company.

 (Reporting by Makiko Yamazaki and Rocky Swift, editing by
Louise Heavens)
 ((Makiko.Yamazaki@thomsonreuters.com; +81-3-4563-2805;))