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Toshiba receives 10 investment proposals including eight to go private
Toshiba Corp said on Thursday it has received 10 investment proposals including 8 proposals to go private as the troubled Japanese conglomerate explores strategic options.
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The other two proposals were for capital and business alliances in which Toshiba would remain listed.
Toshiba, which has been bedevilled by accounting and governance crises since 2015, set up a special committee in April to solicit proposals after shareholders voted down a management-backed restructuring plan.
The deadline for submitting the non-binding proposals was Monday.
The company said in a statement it will evaluate financing arrangements, the feasibility of the proposals and select potential investors to be given due diligence opportunities after its shareholders meeting on June 28.
Last month, Toshiba said 10 potential investors had signed confidentiality pledges.
According to sources, KKR & Co Inc, Blackstone Inc, Bain Capital and Brookfield Asset Management were considering bids.
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