A consortium led by investment fund Japan Industrial Partners Inc. is expected to delay the start of a tender offer for Toshiba until August or later, sources said Friday.
The consortium initially planned to launch the tender offer as early as late July, but it is taking time to obtain approval from antitrust regulators in certain countries, according to the sources.
The consortium plans to buy more than two-thirds of Toshiba's outstanding shares at ¥4,620 per share. It aims to eventually acquire all Toshiba shares and take the company private.
Toshiba has been mired in management turmoil since an accounting scandal surfaced in 2015.
The company solicited turnaround proposals and decided on March 23 to accept the JIP-led consortium's acquisition proposal. The contract between the two sides requires the consortium to start a tender offer within six months of that date.