Toshiba Unveils Billion-Dollar Buyback Scheme in Bid to Return to Private Ownership

Toshiba Unveils Billion-Dollar Buyback Scheme in Bid to Return to Private Ownership

Toshiba has confirmed that it will launch a two-trillion-yen ($14 billion) tender offer to take the company private in a bid to enhance profitability. Toshiba’s board and private equity firm Japan Industrial Partners (JIP) agreed to raise the share price by 10 yen ($0.07) to the final offer of 4,620 yen ($32.27) per common share.