ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Business deals

Fund tied to activist Murakami starts Toshiba Machine takeover bid

Group to spend up to $235m to acquire 44% of outstanding shares

Activist investor Yoshiaki Murakami considers Toshiba Machine's defense plan "unreasonable," after it abolished anti-takeover mechanisms last year. (Nikkei montage) 

TOKYO -- A fund linked to prominent activist investor Yoshiaki Murakami on Tuesday announced a takeover bid for Toshiba Machine, looking to spend up to 25.9 billion yen ($235.4 million) to acquire 44% of outstanding shares.

Starting the same day, Tokyo-headquartered City Index Elevens will seek to purchase Toshiba Machine shares for 3,456 yen each -- 7% lower than the closing price on Monday but 11% higher than last Friday's close. The bid will run until March 4 and is contingent upon acquiring at least 14.5%.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more