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TOKYO (Reuters) – A consortium led by private equity firm Japan Industrial Partners (JIP) acquired 78.65% of Toshiba (OTC:TOSYY) through a tender offer, the company said, coming a step closer to completing the $14 billion deal to take the company private.
Ownership of more than a two-third majority would be enough for the JIP group to squeeze out remaining shareholders. Toshiba is now set to be delisted as early as December, ending its 74-year history as a listed firm.
