Toshiba Selling for $16 Billion

Toshiba is looking to sell and as of right now it would appear that Japan Industrial Partners Inc. is leading the bid.

Toshiba has had a good year for itself with its stock price rising by 17%. This has left the valuation of the company to reach nearly $16 billion or 2.4 trillion yen. The Japan Industrial Partners are seeking to purchase Toshiba in an all-cash deal worth $16.1 billion.

However, Japan Industrial Partners have been having trouble managing to get the funding for the takeover. They have been in talks with numerous financial institutions around the country and several weary lenders are making it difficult for the company to make the November 7 commitment deadline.

While Japan Industrial Partners have a clear lead in regard to the acquisition, nothing is set in stone as Toshiba is also considering asset sales rather than the sale of the entire company.

Source: Bloomberg