Toshiba walked away from potential buyout talks, offer for minority stake in Brookfield, sources say [Toronto Globe and Mail (Ontario, Canada)]
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Source: Toronto Globe and Mail
Japan’s Toshiba Corp walked away from potential private equity buyout offers at a substantial premium, as well as advanced talks for a minority stake from Canada’s Brookfield, according to three people familiar with the matter. Toshiba’s decision to not pursue either course – some details of which have not been previously reported – and instead focus on a plan to split itself in three, has widened the gulf between the conglomerate and a number of its hedge fund investors, according to the people, all of whom declined to be identified because of the sensitivity of the issue. At least one private equity firm told the Toshiba committee tasked with its strategic review that a deal to take it private could be done at 6,000 yen a share or more, according to two people briefed on the review process. Another private equity firm told the committee a deal could get done at around 5,000 yen a share, according to one of the people briefed on the review and another person. A price of 6,000 yen wou
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