Toshiba’s Largest Shareholder Tenders Shares in JIP Takeover Offer

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Toshiba’s largest shareholder, Effissimo Capital Management, has decided to tender its shares in the takeover offer led by Japan Industrial Partners (JIP), according to a source familiar with the matter. Effissimo has a 9.89% stake in Toshiba, which makes up a significant portion of the shares needed for JIP’s bid to succeed.

JIP, a private-equity firm, launched a 4,620 yen-per-share bid to take Toshiba private last month. The bid closes on September 20th, and at least two-thirds of shareholders need to tender their shares for it to succeed.

Effissimo’s decision to tender its shares is a major boost for JIP’s bid. It is also a sign that investors are confident in JIP’s ability to turn Toshiba around. Toshiba has been struggling in recent years, with a series of accounting scandals and financial losses.

If JIP’s bid is successful, it would take Toshiba private and give the company a chance to focus on its core businesses without the pressure of public markets. It would also be a major victory for JIP, which would be acquiring one of Japan’s most iconic companies.

The outcome of JIP’s bid will be closely watched by investors and industry observers alike. Toshiba is a major player in a variety of industries, including electronics, power generation, and infrastructure. A successful takeover by JIP could have a significant impact on the Japanese economy.


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