Money

Shares in the Tokyo-based company climb amid buyout rumours

Published

3 years ago

October 14, 2022

Toshiba is reporting a 7 per cent rise in shares, in response to a proposed 19 billion dollar buyout bid

A private equity firm has been given the preferred status in a second round of bidding after a troublesome time for the Tokyo company.

The company has been hit by accounting and governance scandals in recent years.

Many shareholders have also been at odds with management over the direction of the company.

It’s believed the deal isn’t finalised, with many players still at the table.

Toshiba hasn’t commented on the matters

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Costa Haritos

Costa is a news producer at ticker NEWS. He has previously worked as a regional journalist at the Southern Highlands Express newspaper. He also has several years' experience in the fire and emergency services sector, where he has worked with researchers, policymakers and local communities. He has also worked at the Seven Network during their Olympic Games coverage and in the ABC Melbourne newsroom. He also holds a Bachelor of Arts (Professional), with expertise in journalism, politics and international relations. His other interests include colonial legacies in the Pacific, counter-terrorism, aviation and travel.