The preferred bidder to buy out Toshiba has offered to pay less than the widely regarded threshold of ?6,000 a share, two sources said, indicating the premium for the Japanese conglomerate may not be as rich as investors had hoped.
A consortium led by private equity firm Japan Industrial Partners (JIP) was granted preferred bidder status by Toshiba in a second round of bidding on Oct. 7, though the conglomerate is still open to proposals from others, people familiar with the matter have said.
Conditions of JIP¡¯s proposal include retaining current management, a separate source said ¡ª a friendly offer for Toshiba Chief Executive Taro Shimada who aims to boost profit by beefing up data-related services.
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