Toshiba to accept takeover bid from group of Japanese companies

Toshiba Corp's board on Thursday agreed to accept a buyout proposal worth around 2 trillion yen ($15.3 billion) from a consortium led by private equity firm Japan Industrial Partners (JIP), the Nikkei business daily reported.

The resolution was passed at a board meeting on the day. The acquisition is estimated to be worth around 2 trillion yen ($15.3 billion). JIP is expected to conduct a takeover bid and take Toshiba private.

Source: Nikkei Asia