With a recent buyout offer for Toshiba Corp. from a British private equity firm apparently hitting a snag, a bidding war involving other investors may break out for the industrial conglomerate, industry experts say.
Investor interest in the growth potential of some of Toshiba's businesses, such as chipmaking and infrastructure systems, means the company is likely to face continued pressure to streamline its wide-ranging operations, they say.
Toshiba's management rift widened after CVC Capital Partners made a buyout offer worth over $20 billion (about ¥2.18 trillion), leading its board members to believe president and CEO Nobuaki Kurumatani, once a CVC executive, was pulling strings to fend off pressure from activist shareholders.