JIP-led 2 tril. yen Toshiba buyout begins in bid to turn it around

A 2 trillion yen ($14 billion) tender offer for Toshiba Corp. began on Tuesday, with its management calling on shareholders to accept the bid from a consortium led by Tokyo-based fund Japan Industrial Partners Inc. in an effort to turn around its business through delisting.The consortium, which aims to restructure the trouble-ridden conglomerate as a privately-held company before relisting it again, said it will pay 4,620 yen per share in the offer though Sept. 20.Toshiba shares closed the day 0.56 percent higher at 4,610 yen in Tokyo, short of the offer price."It's been a rising market so …READ FULL ARTICLE