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Toshiba Announces Offer From JIP as Saga Enters Its Final Stages

  • Japanese conglomerate says offer came from group led by JIP
  • There’s no assurance a deal will be completed, Toshiba says

Toshiba Corp. said it received an offer from a Japanese group as the conglomerate moved a step closer to ending a troubled chapter in its 148-year history — after a series of scandals plunged it into difficulty and set it on a path toward a sale.

The Tokyo-based company announced the offer from a consortium led by domestic private equity firm Japan Industrial Partners Inc. in a statement Thursday. It said it just received the offer today and will assess it, noting that there’s no assurance a deal will be done. The statement didn’t give further details of the proposal.