Toshiba has determined that the Consortium has presented the best proposal, not only in terms of valuation, but also in respect to certainty of closing, retention of employees, and maintenance of sensitive technology within Japan.
Following this decision, Toshiba’s intention is to reach a mutually satisfactory definitive agreement with the Consortium by the date of its annual ordinary general meeting of shareholders, scheduled for June 28, and to close the transaction within March 2018, upon clearance of all the required processes, including competition law approvals in key jurisdictions.
Related News: http://www.toshiba.co.jp/about/press/2017_06/pr0201.htm
About Toshiba
Founded in Tokyo in 1875, Toshiba Corporation is a Fortune Global 500 company that contributes to a better world and better lives with innovative technologies in Energy, Infrastructure and Storage. Guided by the philosophy of “Committed to People, Committed to the Future,” Toshiba promotes operations through a global network of 551 consolidated companies employing 188,000 people, with annual sales surpassing 5.6 trillion yen (US$50 billion; March 31, 2016).
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