For years, private equity giants have worked to change a damaging public perception in Japan: that they¡¯re ¡°vultures,¡± hacking companies apart and gorging on their remains.
Now, Toshiba is giving the buyout industry an $18 billion opportunity to see whether those efforts have paid off.
The troubled Japanese conglomerate is soliciting acquisition offers ¡ª and other proposals ¡ª as it seeks to end years of mismanagement. Bain Capital, Blackstone Inc. and CVC Capital Partners are among the funds considering bids. A successful deal, which may be private equity¡¯s largest ever in the country, would signal the once-criticized investors have become more accepted in Japan.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.