Toshiba has announced its support for the $14.3 billion buyout offer from a consortium led by Japan Industrial Partners (JIP).
The deal is expected to help address Toshiba's business environment and management challenges, and enable the company to implement a consistent business strategy for long-term growth.
Toshiba's CEO and President, Taro Shimada, warned that the company's projections for the 2024 and 2025 fiscal years would be difficult to achieve without a stable management base.
The tender offer is yet to commence, but Toshiba said it had received positive responses regarding the buyout offer from stakeholders, including customers, business partners, and employees.
