Energy News
CIVIL NUCLEAR
Toshiba says $14 bn offer to go private set to succeed
Toshiba says $14 bn offer to go private set to succeed
by AFP Staff Writers
Tokyo (AFP) Sept 20, 2023

Toshiba said on Wednesday that a $14 billion tender offer to take the troubled Japanese conglomerate private is set to succeed.

The announcement comes after a takeover scheme to delist Toshiba launched last month by a Japan Industrial Partners-led consortium closed on Wednesday.

"We have received a report from the offeror that the tender offer is forecasted to be successful," Toshiba said in a statement.

The final results will be announced once the company receives it, it said.

In March, Toshiba said the tender offer would be called off if the consortium failed to buy at least 66.7 percent of the outstanding shares.

The consortium taking control in the nearly two trillion yen deal includes 17 Japanese firms and six Japanese banks.

Toshiba, which once symbolised Japan's economic might, has recently been mired in scandals, financial turmoil and resignations.

Two years ago, a bombshell buyout offer from private equity fund CVC Capital Partners put a question mark over the conglomerate's future.

After the CVC offer was dropped, plans were floated to split the company up and spin off its device segment -- meeting stiff opposition from some investors.

Toshiba grew into a vast conglomerate, but has been in upheaval since it was rocked by a profit-padding scandal in 2015.

The company also suffered from huge losses at its US nuclear subsidiary, followed by a recovery that brought pressure from new activist shareholders.

Related Links
Nuclear Power News - Nuclear Science, Nuclear Technology
Powering The World in the 21st Century at Energy-Daily.com

Subscribe Free To Our Daily Newsletters
Tweet

RELATED CONTENT
The following news reports may link to other Space Media Network websites.
CIVIL NUCLEAR
UK and Japan partnership to develop new technologies for nuclear waste disposal
London, UK (SPX) Sep 19, 2023
New research that will develop technologies to detect and process radioactive waste has been awarded funding by the UK in partnership with the Japanese government. The research will support work to decommission Sellafield Nuclear Plant in the UK and remove radioactive debris from the Fukushima nuclear accident in Japan. Two projects have been awarded a share of Pounds 1 million, delivered by the Engineering and Physical Sciences Research Council (EPSRC), part of UK Research and Innovation, ... read more

CIVIL NUCLEAR
NASA-built greenhouse gas detector moves closer to launch

SynMax announces acquisition of Gas Vista in energy and maritime intelligence push

Spire Global selected by Estuaire to monitor and reduce aviation emissions

Showcase your climate data visualisation talent with ESA

CIVIL NUCLEAR
Galileo becomes faster for every user

Present and future of satellite navigation

New Galileo station goes on duty

Potential earthquake precursor discovered through GPS measurements

CIVIL NUCLEAR
Scientists rediscover small Brazil tree, 185 years on

How trees influence cloud formation

Two dead as police, illegal miners clash in Venezuelan Amazon

Heat, drought, fires threaten Lebanon's northern forests

CIVIL NUCLEAR
Making aviation fuel from biomass

Chevron, partners develop a transportation fuel using animal waste as a feedstock

Illinois research leading to cleaner propane production method

Transforming flies into degradable plastics

CIVIL NUCLEAR
Solar panels go into service near North Pole

Flexible solar cell achieves major power conversion efficiency gains

The tricky path to tripling renewable energy capacity

New insight for stabilizing halide perovskite via thiocyanate substitution

CIVIL NUCLEAR
Harvesting wind energy in small countries with low wind speed and limited

How wind turbines react to turbulence

Work starts on key German wind power energy line

No offshore wind in latest UK green energy auction

CIVIL NUCLEAR
At least 16 killed in coal mine fire in SW China

Major Indonesia coal plant back near capacity despite pollution concerns

Locals, NGOs accuse World Bank of backing Indonesia coal plant expansion

Indonesia halves output at coal power plant as pollution spikes

CIVIL NUCLEAR
China weighs ban on clothing that 'hurts feelings' of nation

Lesbian couple win Hong Kong court victory in IVF case

US believes China defense chief under investigation by Beijing: report

China insurance chief given life in jail for corruption

Subscribe Free To Our Daily Newsletters




The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.