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Business deals

Japan investor group to launch $14bn Toshiba takeover bid Tuesday

Buyout expected to completed by end of year if it wins shareholder approval

The expected tender offer values the maker of electronics and power stations at $14 billion.   © Reuters

TOKYO -- Toshiba said on Monday that a Japanese investor group led by Japan Industrial Partners (JIP) will launch a $14 billion takeover bid for the company on Tuesday, a move that would end the company's 74-year history as a public company.

Toshiba also explained how the downturn in the technology industry over the past year has led to repeated downgrades in the bidding price by the investor group, despite calls from hedge fund shareholders demanding a higher offer.

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