Toshiba Climbs On Plans To Review Privatization Bids

Toshiba Corp. gained as much as 3.5%, after the Japanese company said it would scrap plans to split the company in two and set up a committee to consider “strategic alternatives,” including bids to take the company private.

The embattled company said the new committee will comprise Toshiba’s independent directors, according to a statement late Thursday. It will begin discussions with potential investors and sponsors as soon as practical.