Shulou(Shulou.com)11/24 Report--

October 18, according to foreign media reports, two sources said that the preferred bidder for Toshiba was lower than the widely believed threshold of 6000 yen per share, making the value of the potential offer less than 2.6 trillion yen. this suggests that the premium to Toshiba may not be as high as investors expected.

Founded in July 1875, Toshiba is Japan's largest semiconductor manufacturer and the second largest integrated motor manufacturer, part of Mitsui Group, whose businesses include digital products, electronic components, social infrastructure equipment, home appliances and so on. The company is seeking a takeover offer to privatize Toshiba or other strategic options.

Last week, people familiar with the matter said Japan Industrial Partners, a Japanese private equity firm, is seeking to buy Toshiba in partnership with a number of Japanese companies.

It is reported that JIP has invited more than 10 companies, including Central Electric Power Company (Chubu Electric Power Co.), financial services giant Orix Corp., Japan Life Insurance Company (Nippon Life Insurance Co.), Japan Toray Co., Ltd. (Toray Industiries) and Donghai passenger Railway (Central Japan Railway Co.), to join its consortium.

Toshiba awarded the preferred bidder to a consortium led by JIP in the second round of bidding on October 7, although Toshiba remains open to other bids, according to people familiar with the matter.

In addition to the consortium led by JIP, a consortium led by Japan Investment Corp (JIC), a Japanese government-backed investment fund, Bain Capital, CVC Capital Partners, MBK Partners and Brookfield Asset Management are also preparing to bid for Toshiba.

It is reported that JIP and JIC worked together in the bidding, but then the partnership broke down and they reorganized the bidding alliance.

Welcome to subscribe "Shulou Technology Information " to get latest news, interesting things and hot topics in the IT industry, and controls the hottest and latest Internet news, technology news and IT industry trends.