JIP consortium to launch 2 tril. yen Toshiba buyout on Tues.

A consortium, led by Tokyo-based fund Japan Industrial Partners Inc., announced Monday it will launch a 2 trillion yen ($14 billion) tender offer for Toshiba Corp. on Tuesday, a significant stride towards the planned delisting and rehabilitation of the beleaguered conglomerate. The move comes as Toshiba shareholders in June reappointed 11 directors who backed the offer, which could be seen as an effective approval for the buyout plan. Toshiba has been struggling to recover from a spate of problems over the past decade, including an accounting scandal and massive losses in its U.S. nuclear busi...