2 tril. yen Toshiba takeover bid succeeds, Japan investor group says

A 2 trillion yen ($13.5 billion) takeover bid for Toshiba Corp. by a consortium led by Japan Industrial Partners Inc. has succeeded, the Tokyo-based fund group said Thursday, paving the way for the troubled conglomerate to end its 74-year history as a listed company and rebuild itself as a private firm.The bid, launched from Aug. 8 through Wednesday for 4,620 yen per share, attracted 78.65 percent of Toshiba's outstanding shares, the JIP-led group said. More than two-thirds of the shares must be tendered for the bid to be successful.Toshiba's board recommended that shareholders accept the o…READ FULL ARTICLE