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Business deals

Toshiba shares fall 4% after CVC halts buyout plan

Private equity firm's proposal derailed over CEO swap and lack of partners

CVC Capital has suspended plans to take over Toshiba.
Nikkei staff writers | Japan

TOKYO -- Shares in Toshiba fell sharply on Wednesday after the Japanese company said CVC Capital Partners had in effect shelved its $20 billion buyout plan.

CVC's plans have been complicated after the resignation of Toshiba's CEO, who clashed with activist investors. Formidable regulatory hurdles also loomed for any deal.

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