A long-delayed ¥2 trillion ($14 billion) buyout offer for Toshiba will begin Tuesday, with the Japanese industrial electronics firm seeking to close a troubled chapter in its 148-year history.
A consortium led by investment fund Japan Industrial Partners will start a tender offer to buy all outstanding Toshiba shares at ¥4,620 per share between Tuesday and Sept. 20, Toshiba said in a statement Monday. That price, above Toshiba’s closing share price of ¥4,584, was unchanged from a March announcement.
Toshiba, which has know-how ranging from air conditioners and nuclear power equipment to semiconductors and quantum computing, sees the take-private bid as a chance to regain its footing following more than a decade of scandals and management overhauls.