TOKYO -- Toshiba's board on Thursday voted in favor of a 2 trillion yen ($15.3 billion) buyout led by Japan Industrial Partners (JIP), setting the troubled industrial group on a path to go private if the bid succeeds.
The tender offer of 4,620 yen per share requires investors to tender at least two-thirds of outstanding shares to succeed. The Japanese blue chip would later delist from the Tokyo Stock Exchange.
