Toshiba Chooses JIP-Led Group as Preferred Bidder for Buyout

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Toshiba Corp granted a consortium led by Japan Industrial Partners Inc. preferred bidder status for a buyout of the iconic Japanese firm, according to people with knowledge of the situation. Private equity firm JIP was looking to acquire Toshiba in partnership with multiple domestic companies including Orix Corp. and Chubu Electric Power Co. they said. The Nikkei newspaper reported on the deal earlier. Toshiba considered that a sale to JIP would keep the company as one entity, according to the people.

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