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Exclusive-Activist fund Oasis backs call for Toshiba to solicit buyout offers

by Mike Robinson

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© Reuters. FILE PHOTO : Pedestrians see a Toshiba Corp logo at an electronics shop in Tokyo. September 14, 2015. REUTERS/Toru Hansai

SYDNEY/TOKYO – Oasis Management in Hong Kong voted in favor of a shareholder request demanding Toshiba (OTC) Corp solicit buyouts. A source who has direct knowledge said to Reuters Wednesday.

Oasis joined other investors in hedge funds who opposed the Japanese conglomerate’s plan to split itself and called upon the company to consider alternatives prior to an extraordinary meeting that took place on Thursday.

Sources say that the Japanese industrial conglomerate, which is a Japanese multinational, voted against its plan for dissolution.

Oasis did not respond to our request for comment.

Toshiba stated that it will continue to try to win shareholder support for its plan to dissolve.

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