Toshiba Valued at $16 Bn by JIP In Takeover Bid, Sources Say
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A consortium led by Japan Industrial Partners Inc. is considering a takeover of Toshiba Corp. at a valuation of about 2.4 trillion yen.
A consortium led by Japan Industrial Partners Inc. is considering a takeover of Toshiba Corp. at a valuation of about 2.4 trillion yen ($16.1 billion) in what could be Asia's biggest buyout this year, according to people familiar with the matter. The JIP-led group, which is the preferred bidder to take the Japanese industrial group private, plans to provide 1 trillion yen in cash, while seeking financing totaling 1.4 trillion yen from banks along with a committed line of credit of 200 billion yen in working capital, said the people, who asked not to be identified as the matter is private. Toshiba, in its regular meeting with banks includin...