URGENT: Toshiba says CVC to halt buyout offer

Economy

Toshiba Corp. said Tuesday that British private equity firm CVC Capital Partners will suspend its consideration of a buyout offer for the Japanese industrial conglomerate. CVC will "step aside to await your guidance as to whether a privatization of Toshiba will suit management's and the board of directors' strategic objectives," Toshiba quoted the British firm as saying. CVC made a preliminary buyout offer on April 6, a deal that could be worth over 2 trillion yen ($18 billion), and Toshiba sought further details.

Kyodo News

Kyodo News