Latest Posts

Hedge fund Elliott builds stake in Toshiba – FT

imageStock Markets18 minutes ago (Sep 30, 2021 08:35AM ET)

(C) Reuters. FILE PHOTO: Toshiba’s logo is seen at an industrial area in Kawasaki, Japan, January 16, 2017. REUTERS/Kim Kyung-Hoon

(Reuters) -Activist investor Elliott Management has built a stake in Japanese conglomerate Toshiba (OTC:TOSYY) Corp, the Financial Times reported on Thursday, citing people with direct knowledge of the matter.

The hedge fund’s stake did not exceed 5%, the report said, citing people close to Toshiba. Elliot has held several meetings with the company’s board and advisers, FT added. (https://on.ft.com/3AVf6Nu)

Toshiba’s reported move comes as the company has been in talks with financial and strategic investors, including KKR & Co (NYSE:KKR) Inc and three other global private equity firms, to seek their ideas for its new strategy.

Earlier this year, Toshiba launched a full review of its current assets after it dismissed a $20 billion takeover bid from CVC Capital Partners as lacking detail.

The results of the review will be presented when the company announces a new mid-term business plan in October.

Toshiba and an Elliott representative did not immediately respond to Reuters requests for comment.

Hedge fund Elliott builds stake in Toshiba – FT

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Latest Posts

Don't Miss