Scandal-plagued Japan tech giant Toshiba gets tender offer

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Scandal-embattled Japanese electronics and technology manufacturer Toshiba has accepted a $15 billion tender offer from a buyout fund made up of the nation’s major banks and companies. Tokyo-based Toshiba announced its board accepted the bid from Japan Industrial Partners at 4,620 yen, or $36, a share. If the proposal succeeds, it will be a major step in Toshiba’s yearslong turnaround effort, allowing it to go private. Japan Industrial Partners is a buyout fund made up of major banks and companies that was set up in 2002 to restructure Japanese companies. Overseas activist shareholders own a significant part of Toshiba’s shares. It’s unclear if they will approve the bid.