Toshiba weighs buyout offer from UK fund

TOKYO: Toshiba is considering a buyout offer from a British private equity fund, it said on Wednesday, with reports suggesting the deal could be worth about $20 billion. trading of Toshiba shares was halted on Tokyo’s stock exchange at the open, after the Japanese firm confirmed the offer in a statement. Toshiba said it “received an initial proposal yesterday” by CVC Capital Partners for a buyout. “We will request detailed information and carefully discuss” the offer, the firm added. The Nikkei newspaper said CVC was considering a 30 per cent premium over the Japanese industrial group’s current share price, valuing the deal at nearly 2.3 trillion yen ($20.8 billion) based on Tuesday’s close. The financial daily said CVC would consider recruiting other investors to participate in the buyout. CVC declined to comment on the matter. — AFP