TOKYO (Reuters) – According to three persons familiar with the matter the Japanese Toshiba Corp (OTC) Corp walked out of potential buyout offers from private equity at a large premium as well advanced talks for a Canadian Brookfield minority stake.

The decision by Toshiba to abandon either of its two options, some of which are not known, and to instead concentrate on the plan to divide itself into three has increased the gap between the conglomerate’s and many of its investors in hedge funds, according to those who spoke out. None of them wanted to identify themselves because the sensitive nature of the topic meant that they could not be named.

According to two persons briefed, at least one private equity company told the Toshiba committee that it could make a deal for the Toshiba to go private. The agreement would be made at around 6,000 yen per share.

According to one person briefed about the review, another private equity company told the committee that a deal was possible at around 5,000 Japanese yen per share.

Toshiba would be worth approximately 2.6 trillion Japanese yen ($23billion) if it were sold at 6,000 yen. This price is 32% higher than the average price for Toshiba over the past 200 day according to Refinitiv data.

Toshiba released a statement to Reuters saying that they are in communication with shareholders about the separation plan it announced on November 12. They also listen to their opinion. We will keep in touch with different stakeholders.”

According to multiple sources, some shareholders also objected to Toshiba’s decision to not pursue negotiations with Brookfield Asset Management in Canada, one of the private equity companies, about a possible minority investment.

Sources said that Brookfield could have taken a minor stake in the company and helped to restructure it.

Brookfield has not yet responded to my request for comment.