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Toshiba in turmoil

U.S. hedge fund Farallon urges Toshiba to consider privatization

Key shareholder will vote against Japanese group's proposed two-way split

Several Toshiba stakeholders have voiced opposition to the spinoff proposal.

TOKYO -- Farallon Capital Management urged Toshiba to solicit buyout offers in a statement Friday, while expressing opposition to the Japanese conglomerate's plans to split into two publicly traded companies.

"Farallon believes that a privatization is likely in the best interest of all of Toshiba's stakeholders," it said. The U.S. asset management firm is thought to hold a roughly 5% stake in Toshiba, making it one of the industrial group's largest shareholders.

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