Skip to content

Toshiba’s Biggest Investor to Tender Stock If Bain Makes Bid

The Toshiba Corp. headquarters, in Tokyo.

The Toshiba Corp. headquarters, in Tokyo.

Photographer: Soichiro Koriyama/Bloomberg
Updated on

Toshiba Corp.’s largest shareholder said it has agreed to tender its stock in the event of an offer from Bain Capital, reigniting speculation about future takeover bids for the troubled Japanese conglomerate.

Effissimo Capital Management Pte. would tender its entire stake if Bain launched a tender offer to acquire two-thirds or more of Toshiba, the activist shareholder said in a Japanese regulatory filing. Singapore-based Effissimo owns 9.9% of Toshiba, according to data compiled by Bloomberg.