Toshiba Corp. finally looks like it has a path forward with one of Japan’s biggest-ever leveraged buyouts on the table. Even if shareholders don’t seem too enthused about the terms, best to take your money and call it a day.
After months of uncertainty and bad news, the storied conglomerate accepted an offer from a consortium of 17 Japanese firms and six domestic banks, led by private equity shop Japan Industrial Partners Inc., or JIP, for a 2 trillion yen ($15.1 billion) buyout. The emergence of clarity in a long-running drama between global hedge funds and an iconic firm pushed the stock ...
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