Toshiba says it's talking to 10 suitors about possible sale

Ailing Japanese giant Toshiba has revealed it has 10 potential suitors for its possible sale. A Friday announcement revealed that Toshiba's decision to consider a sale to a private buyer has progressed to the point at which discussions are under way with §0 parties who have expressed an interest in submitting a proposal to buy …

[ecofeco]

The once great zaibatsu

It's seems all the once great zaibatsu are dangerously moribund.

[Anonymous Coward]

Ello Tosh, Gotta Toshiba

It aint half built well

https://youtu.be/BjJBFGGjdpw

[Pascal Monett]

"discussions are under way with §0 parties"

So, after all the drama of the previous weeks, suddenly there is a plethora of companies crawling out of the woodwork to buy Toshiba ?

[imanidiot]

Re: "discussions are under way with §0 parties"

Never a lack of vultures to squeeze the last blood out of a faltering company. Usually by splitting it into many many disparate blocks, selling off all assets (including all IP) and taking out massive loans in the name of the company to finance even more money making schemes. In the process leaving the victim company a pile of bare bones, picked dry and in massive debt, ready to finally be declared dead.

[Auntie Dix]

Re: "discussions are under way with §0 parties"

"Vultures" is right. Bain Capital, one of those cited, is Mitt Romney's alma mater.

Two-faced creep Romney trumped up his actions as "harvesting the value" [of the victim company].

The reality is what you stated:

"...splitting it into many many disparate blocks, selling off all assets (including all IP) and taking out massive loans in the name of the company to finance even more money making schemes. In the process leaving the victim company a pile of bare bones, picked dry and in massive debt, ready to finally be declared dead."

Sad example:

Sears and scumbag Eddie Lampert

[jvf]

Re: "discussions are under way with §0 parties"

That's what they did to my company.

[Anonymous Coward]

The headline should be

Toshiba tells shareholders to get stuffed

In a special meeting on March 24, shareholders voted down splitting the company or selling the company. Proxy adviser Glass Lewis said clients should vote against the split proposal and argued the process that led to it relied on “flagrantly dubious reasoning”. The votes were non-binding but set up a binding vote next year.

Toshiba management is now scrambling to ensure that the sale (and their golden parachutes) happen as soon as possible.

For an analysis see:

https://www.bloomberg.com/news/articles/2022-03-24/toshiba-shareholders-reject-both-company-split-3d-proposals-l14fg3c8