Osamu Nagayama, chairman of the board of directors, said that "Toshiba", a major electronics manufacturer, has received proposals for acquisition from UK-based investment fund "CVC Capital Partners" and others. I announced a comment.
Among them, Toshiba's Chairman of the Board, Mr. Nagayama, said, "We received an initial and non-binding proposal. This was not at the request of the Company, but after a detailed examination of the business, etc. It's not something that exists. "
He added, "The proposal is subject to many matters, such as the provision of clearance under national competition law, foreign exchange and foreign trade law. CVC does not assume that the proposal will be funded independently, but finance. It is premised on raising funds from institutions, and it will take a considerable amount of time to consider and will be complicated. "
In considering the proposal, he states, "We recognize that it is the responsibility of the Board of Directors to act in the best interests of the Company and shareholders, and that it is of utmost importance."
Toshiba has decided to set up a team including the vice president to consider acquisition proposals from investment funds.