TOKYO (Reuters) -Japan’s Toshiba Corp said on Thursday its board of directors decided to recommend shareholders to take up a tender offer by a consortium led by private equity firm Japan Industrial Partners (JIP).
Toshiba’s board earlier this year accepted the buyout offer, which would value the Japanese electronics conglomerate at 4,620 yen a share or 2 trillion yen ($14.29 billion) in total, but did not go as far as recommending shareholders to tender their shares.
($1 = 139.9100 yen)
(Reporting by Kiyoshi TakenakaEditing by Chang-Ran Kim and Shri Navaratnam)
