JIP-led 2 tril. yen Toshiba buyout begins in bid to turn it around

A 2 trillion yen ($14 billion) tender offer for Toshiba Corp. began on Tuesday, with its management calling on shareholders to accept the bid from a consortium led by Tokyo-based fund Japan Industrial Partners Inc. in an effort to turn around its business through delisting. The consortium, which aims to restructure the trouble-ridden conglomerate as a privately-held company before relisting it again, said it will pay 4,620 yen per share in the offer though Sept. 20. Toshiba shares rose 0.57 percent to 4,610 yen in the morning session in Tokyo, short of the offer price. "It's been a rising mark...