A staff stands in front of a venue of Toshiba Corp’s annual general meeting with its shareholders in Tokyo, Japan, June 25, 2021. REUTERS/Kim Kyung-Hoon/Files
March 11, 2022
TOKYO (Reuters) – One of Toshiba Corp’s largest shareholders on Friday called on it to solicit buy-out offers, joining a chorus of investors that have opposed the Japanese conglomerate’s plan to break itself up.
Farallon Capital Management, a U.S. hedge fund that owns more than 6% of Toshiba, making it the third-largest shareholder, said in a statement it planned to oppose the break-up plan and that Toshiba should solicit privatisation proposals.
It said Toshiba should carefully evaluate private equity interest and continue a strategic review.
Toshiba’s top shareholder and two influential proxy advisory firms on Thursday said they opposed the company’s plan to split up.
(Reporting by Makiko Yamazaki; Editing by David Dolan and Sam Holmes)
