The JIP-led consortium successfully obtained 78.65% of Toshiba’s shares through the tender offer. This majority ownership enables them to proceed with their plans for Toshiba.
Toshiba has faced battles with overseas activist investors in the past. Going private allows the company to distance itself from these conflicts and potentially focus on its long-term strategy.
The buyout offer valued Toshiba at 2 trillion yen ($13.5 billion). While some shareholders may have been dissatisfied with the offer price, Toshiba argued that there were no prospects for a higher offer or competing bid.
Toshiba aims to have a stable shareholder base to pursue its long-term strategy, focusing on high-margin digital services.
The article mentions that Toshiba is set to be delisted as early as December, indicating that it will no longer be traded on the stock exchange.