Toshiba approves $15bn buyout offer from Japanese private equity fund

The board of Toshiba approved a $15bn offer from a consortium led by a Japanese private equity fund on Thursday, according to two people close to the talks, paving the way for the country’s biggest ever take-private deal.

The 147-year-old conglomerate, which was worth ¥1.8tn ($14bn) at Thursday’s market close, will be acquired by Japan Industrial Partners, a fund leading a consortium of 20 companies including financial services group Orix, Chubu Electric Power and chipmaker Rohm.