By Syndicated Content
Apr 12, 2021 10:08 PM
TOKYO (Reuters) - Hong Kong-based Oasis Management said on Tuesday CVC Capital s reported offer of 5,000 yen a share for Toshiba Corp was far below fair value .
The fund, an investor in Toshiba since 2016, said a price of more than 6,200 yen ($56.54) per share for Toshiba would be appropriate.
Oasis also said Toshiba should set up a special committee to discuss the proposal as soon as possible.
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4 Min Read
TOKYO (Reuters) - Toshiba Corp Chief Executive Nobuaki Kurumatani plans to step down as other board members consider his future at the industrial conglomerate amid controversy over a $20 billion buyout bid from his former employer, CVC Capital Partners, a source with knowledge of his decision said.
FILE PHOTO: Toshiba Corp s CEO Nobuaki Kurumatani attends a news conference at the company s headquarters in Tokyo, Japan, May 15, 2018. REUTERS/Issei Kato
Kurumatani, who has run the company for three years, faces a board meeting on Wednesday that will consider removing him, according to the source and another one with knowledge of the discussion. Local media said company Chairman Satoshi Tsunakawa was a possible successor.