Toshiba Corp. on Tuesday brushed off a fresh missive from CVC Partners about the global fund’s proposal to acquire the Japanese manufacturer, though it stopped short of outright rejecting it.
Toshiba said that a letter from CVC that it received Monday was “not possible to evaluate.”
Tokyo-based Toshiba said the letter did not provide necessary details such as CVC’s capital structure or post-acquisition management policies and an assurance of compliance with local and foreign laws and regulations. But the Japanese technology and energy giant did not rule out the offer, estimated to be worth 2 trillion yen ($18 billion).
Toshiba earlier said the CVC’s initial proposal to take the company private was not viable, though it promised to review it.
Source: Associated Press – YURI KAGEYAMA