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Business deals

Toshiba receives offer from CVC to go private in $20bn deal

Buyout firm's proposal includes 30% premium on Japan group's share price

Toshiba has frequently butted heads with activist investors over governance issues. (Photo by Yoshiyuki Tamai)

TOKYO -- Global private equity firm CVC Capital Partners has proposed a deal to privatize Toshiba through a tender offer that is expected to be worth more than $20 billion, Nikkei learned Tuesday.

Toshiba CEO and President Nobuaki Kurumatani on Wednesday morning confirmed the report by Nikkei, telling reporters the "offer has come" and that the company's executives would "discuss [the offer] at a board meeting" the same day.

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