Toshiba board accepts Japan Industrial Partners' $15.2 billion buyout proposal

FILE PHOTO: The logo of Toshiba Corp is seen at the company's facility in Kawasaki, Japan June 10, 2021. REUTERS/Kim Kyung-Hoon/File Photo

TOKYO (Reuters) -Toshiba Corp's board has accepted a $15.2 billion buyout offer from a group led by private equity firm Japan Industrial Partners, the company said on Thursday, potentially drawing a line under years of upheaval at the conglomerate.

A successful deal, which would value Toshiba at 4,620 yen per share or 2 trillion yen in total, would see the scandal-ridden company taken private and firmly in domestic hands after much tension with overseas activist shareholders. It is however not yet clear whether activist funds, which are estimated to own roughly a quarter of the company, will be satisfied with the terms. The offer price would give just a 9.7% premium over Thursday's closing price of 4,213 yen.