TOKYO -- Toshiba said on Friday that shareholders are responding positively to a buyout proposal by a Japan Industrial Partners-led consortium, suggesting that a two-year-long saga over the privatization of the company may finally come to a conclusion.
In an earnings call, Toshiba Chief Financial Officer Masayoshi Hirata suggested that accepting the group's proposal would be the only realistic option for the company -- and shareholders, including activists. He stressed there is no other offer on the table right now. Toshiba's board includes members recommended by activists.
