• Bloomberg


Toshiba Corp. investor King Street Capital Management plans to nominate a slate of independent directors to replace a majority of the manufacturer’s board, ratcheting up the hedge fund’s first public activist campaign.

Among the nominees will be Brian Higgins, co-founder of the fund, which manages about $20 billion. King Street owns about 5.4 percent of Toshiba and is its fourth-largest shareholder. The stock rose as much as 2.5 percent in Tokyo on Tuesday.

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