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U.S. investment fund Bain Capital LP is considering acquiring Toshiba Corp., adding to uncertainties over the outlook for the Japanese conglomerate after its reform plan was rejected by shareholders last week, sources familiar with the plan said Thursday.
Toshiba’s largest shareholder Effissimo Capital Management Pte Ltd. indicated it would sell the shares it holds to Bain Capital if it launched a takeover bid for the Japanese firm.
Toshiba, a household name in Japan with a nearly 150-year history, had sought majority support for its proposal to split into two listed companies at an extraordinary shareholders’ meeting on March 24.
But it received opposition from 59.69% of its shareholders.
“We have no knowledge about this. We will continue to consider every possible option to improve our corporate value,” Toshiba said in a statement.
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KEYWORDS
Toshiba, Bain Capital
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