Toshiba shareholders reelect board members promoting buyout plan

Shareholders of Toshiba Corp. on Thursday approved the reappointment of all 11 directors who backed a tender offer made by a consortium led by Japan Industrial Partners Inc., although some investors criticized the offer as being “too cheap.”

The effective investor approval for the 2 trillion yen ($14 billion) buyout plan is expected to move forward the planned privatization of the struggling tech conglomerate, with the tender offer starting as early as late next month.

If the tender offer is agreed on and Toshiba becomes private, the company will be able to cut ties with overseas activist shar...