Japan's JIP-led consortium will launch a bid for Toshiba, with a total price estimated to be as high as 2 trillion yen

CTOnews.com August 7, Toshiba announced today that a consortium led by Japan's Industrial partner Co., Ltd. (Japan Industrial Partners,JIP) will launch a bid for Toshiba on Tuesday. Toshiba's board reiterated its support for the offer.

According to reports, the offer price remains unchanged at 4620 yen per share, and the total transaction cost is estimated to be as high as 2 trillion yen (CTOnews.com Note: currently about 101 billion yuan). The offer will last until September 20.

In February this year, the Nikkei News said that Toshiba had accepted an offer from a consortium led by JIP in a deal worth about 2 trillion yen, and Toshiba's board of directors had approved the offer and submitted a delisting plan to shareholders.

Tuyuan Unsplash Bloomberg earlier quoted people familiar with the matter as saying that several big Japanese banks issued loan commitment letters to support the Japan Industrial Partners-led acquisition.

Earlier, sources said that the stake would be provided by a number of Japanese companies, including financial services group Orix, chipmaker Rohm and Postal Bank of Japan.