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Toshiba Corp. said on Wednesday it had received a proposal to acquire private equity firm CVC Capital Partners.
The Japanese industrial firm said it would ask for more details on the offer and give it careful consideration.
The offer comes as some Toshiba shareholders have questioned the company’s corporate governance in recent months.
PRIVATE CASH POSITION REACHES A RECORD OF $ 1.5 T
In March, shareholders approved a proposal made by Effissimo Capital Management Pte., A major shareholder of Toshiba, proposing to appoint investigators to verify whether last year’s shareholders’ meeting was conducted fairly.
Foreign shareholders have taken a growing role in the Japanese conglomerate since it raised billions of dollars in 2017 to strengthen its balance sheet following the bankruptcy of its US nuclear subsidiary, Westinghouse Electric Co.
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Toshiba CEO Nobuaki Kurumatani was chairman of the Japanese HVAC unit before joining the company.
Toshiba had a market cap of 1.738 trillion yen ($ 15.84 billion) on Tuesday, according to S&P Global Market Intelligence.
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