CVC Capital Partners (CVC) approached Toshiba in recent weeks with a takeover bid that is said to be worth $20 billion (€16.7 billion).
The Nikkei Asian Review reported that Toshiba shares fell over 4% after CVC decided to freeze the potential takeover of the company. According to the report from Nikkei Asian Review, “CVC’s plans have been complicated after the resignation of Toshiba’s CEO, who clashed with activist investors. Formidable regulatory hurdles also loomed for any deal.”
Last week, Toshiba Corporation’s Board of Directors released an announcement naming Satoshi Tsunakawa as new Representative Executive Officer, President and CEO, replacing Kurumatani.
