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Toshiba in turmoil

Toshiba buyout: Japanese fund submits $15bn proposal

Japan Industrial Partners is leading a consortium of buyers in the deal

Investment fund Japan Industrial Partners has submitted a proposal to take Toshiba private. (Photo by Tsuyoshi Tamehiro)

TOKYO -- Investment fund Japan Industrial Partners has submitted a formal proposal to take over Toshiba for about 2.2 trillion yen ($15 billion), Nikkei learned on Monday.

The proposal is based on Toshiba's current share price. Toshiba's special committee that was established in April will decide whether to accept the bid. 

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