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Toshiba Receives Takeover Price From Private Company CVC

Toshiba Corp. said on Wednesday it had received an acquisition offer from private equity firm CVC Capital Partners.

The Japanese industrial company said it would ask for more details on the offer and consider it carefully.

The offer comes as some Toshiba shareholders have raised questions about the company’s corporate governance in recent months.

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In March, a shareholder approved an offer by Toshiba’s majority shareholder Effissimo Capital Management Pte. not

Foreign shareholders have played a growing role in the Japanese conglomerate as it raised billions of dollars in 2017 to bolster its balance sheet following the bankruptcy of U.S. nuclear subsidiary Westinghouse Electric Co.

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Toshiba Chief Executive Officer Nobuaki Kuruma Tani served as president of CVC’s Japan unit prior to joining the company.

Toshiba had a market cap of 1.738 trillion yen ($ 15.84 billion) as of Tuesday, according to S&P Global Market Intelligence.

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