Stock Market News
Toshiba receives 10 initial proposals including 8 to go private
2022.06.02 08:12
FILE PHOTO: The logo of Toshiba Corp. is seen at the company’s facility in Kawasaki, Japan June 10, 2021. REUTERS/Kim Kyung-Hoon/File Photo
TOKYO (Reuters) – Toshiba (OTC:TOSYY) Corp said on Thursday it has received 10 investment proposals including 8 proposals to go private as the troubled Japanese conglomerate explores strategic options.
Toshiba, which has been bedevilled by accounting and governance crises since 2015, set up a special committee in April to solicit proposals after shareholders voted down a management-backed restructuring plan.
The deadline for submitting the non-binding proposals was Monday.
