Toshiba shares surged 6.5% on reports of a R351 billion valuation

mylesillidge

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Toshiba shares surge after R351 billion valuation

Toshiba Corp. shares jumped as much as 6.5% on Thursday after Reuters reported bidders are considering offering up to 7,000 yen (R823) per share to take the company private, which would value the deal at about $22 billion (R351 billion).

Toshiba has been soliciting acquisition offers — and other restructuring proposals — as it seeks to end years of mismanagement and mollify activist investors.

[Bloomberg]
 
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