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Toshiba’s nuclear business is involved in decommissioning the Fukushima No. 1 nuclear plant, making it hard for the government to accept a transfer of ownership to an overseas firm.
Toshiba, which had originally opposed a buyout, now plans to solicit proposals from potential investors in a drastic change in stance.
Shareholders will vote on two proposals: one, from Toshiba, asks them to support a two-way split; a competing one, put forward by 3D, calls for the company to reconsider alternatives.