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Bain has sounded out other Toshiba shareholders about potential offer, two sources say -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: Toshiba Corp’s logo can be seen at its Kawasaki plant in Japan, February 13, 2017. REUTERS/Issei Kato

TOKYO, (Reuters) – Private equity firm Bain Capital has spoken to multiple Toshiba Corp (OTC) Corp shareholders and Effissimo Capital management about a potential offer for the Japanese conglomerate. Two sources confirmed this.

Bain approached a total of ten shareholders, but it was unclear at this point. Because they weren’t authorized to talk publicly about it, the sources refused to identify themselves.

Effissimo (Toshiba’s biggest shareholder) said Thursday that it was willing to sell its share to Bain if the U.S.-based buyout firm made a tender offer.

Bain stated late Thursday night that no decision had been made about the takeover of Toshiba and that many problems needed to be addressed before launching a bid for Toshiba’s privatization.

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