URGENT: Toshiba mulls rejecting CVC's buyout offer: sources

Economy

Toshiba Corp. is considering rejecting a buyout offer from British private equity firm CVC Capital Partners, sources close to the matter said Thursday. Toshiba's senior officials have told the company's creditor banks that the electronics and infrastructure conglomerate is against CVC's buyout plan worth over $20 billion and asked them not to provide funding to the private equity firm for a planned acquisition, the sources said. Nobuaki Kurumatani, a former chairman of CVC's Japan unit, quit as Toshiba president and CEO on Wednesday following a management feud over the buyout offer.

Kyodo News

Kyodo News