A consortium led by Tokyo-based fund Japan Industrial Partners Inc., the preferred bidder for a potential buyout of Toshiba Corp., is unlikely to secure a bank loan needed to finance the takeover by the Nov. 7 deadline, sources familiar with the matter said Wednesday. A group of banks, including Mitsui Sumitomo Banking Corp., have been in discussions with JIP on a loan of over 1 trillion yen ($6.8 billion) sought by the consortium as part of its Toshiba turnaround plan, but the banks did not give the nod due to the risks involved in the deal, the sources said. The banks also found the expected...
