• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

Hedge fund Elliott builds stake in Toshiba

September 30, 2021 by David Barret Leave a Comment

September 30, 2021

By Svea Herbst-Bayliss and Makiko Yamazaki

NEW YORK/TOKYO (Reuters) -Hedge fund Elliott Management said it has built a stake in troubled Japanese industrial conglomerate Toshiba Corp, which is undertaking a strategic review amid pressure from other shareholders.

Elliott, one of the world’s most powerful activist investors, which oversees some $48 billion in assets, said in a statement to Reuters it is now a “significant” investor in Toshiba.

The New York-based firm’s announcement comes just months after Effissimo Capital Management, Farallon Capital Management and other shareholders ousted Toshiba’s chairman https://ift.tt/3yga0dx after the company was found to have colluded with the Japanese government to put pressure on foreign investors.

“Our investment in Toshiba reflects our strong conviction in the company’s underlying value,” Elliott, which prefers to conduct its negotiations out of the public spotlight, said in the statement.

“We have been encouraged by the constructive nature of our engagement with the company in recent months,” it said.

A Toshiba spokesperson said the company does not disclose communications with its shareholders.

Toshiba has been in talks with financial and strategic investors, including U.S. private equity firm KKR & Co Inc, to seek their ideas for a new strategy.

Japan has recently become a popular hunting ground for U.S. activist investors, with Third Point targeting Sony Group and Olympus appointing three foreign directors after ValueAct took a stake in the company.

ValueAct has also invested in Nintendo and Seven & i Holdings.

During the first half of 2021, 10 campaigns were launched at Japanese companies, according to data from investment bank Lazard.

Toshiba launched a full review of its current assets after dismissing in April a $20 billion takeover bid from CVC Capital Partners. The results of the review will be presented when the company announces a new midterm business plan in October.

(Reporting by Svea Herbst-Bayliss in New York, Makiko Yamazaki in Tokyo and Tiyashi Datta in Bengaluru; Editing by Shailesh Kuber, Kirsten Donovan and Jonathan Oatis)

Source Link Hedge fund Elliott builds stake in Toshiba

David Barret
David Barret

Related posts:

  1. Watch Apple unveil the new iPhone live right here
  2. Ghanaian featherweight aims to go pro after historic Olympic bronze
  3. Commission chief tells Albania: your future is in the EU
  4. Barty returns to Australia to see family, no decision on rest of season

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • “This Is Amazing”: Scientists Have Found Evidence Of A Long-Lost World Deep Within The Earth
  • From The Shiniest World To Lava And Eternal Darkness, These Are The Weirdest Known Planets
  • Do Sharks Have Bones?
  • The Zombie Awakens: A Volcano Is Showing “First Signs” Of Unrest After 700,000 Years Of Quiet
  • Two Of The World’s Biggest Earthquakes Seem To Be Synched Together
  • California Has A New State Snake, And It’s A 1.6-Meter-Long Giant
  • Experimental Nanoparticle “Super-Vaccines” Stop Breast, Pancreatic, And Skin Cancers In Their Tracks
  • New Nightmare Fuel Unlocked: Watch The First Known Capture Of A Shrew By A False Widow Spider
  • Peculiar Glow In The Milky Way Might Be Dark Matter Signature
  • “I Was Scared To Death”: Missouri’s Great Cobra Scare Of 1953 Was Eventually Solved After 35 Years
  • Two Spacecraft To Fly Through Comet 3I/ATLAS’s Ion Tail – Will They Be Able To Catch Something?
  • Pioneering Heavy Water Detection Suggests Earth’s Water Might Be Older Than The Sun
  • PhD Students’ Groundbreaking New Technique Rescues JWST’s Highest Resolution Data
  • Popcorn-Like Parasites And Weird Worms Among 14 New Species Discovered In The World’s Oceans
  • Poem From 1181 CE Cairo Appears To Reference A Rare Galactic Supernova
  • With “Iridescent Live Colors”, Newly Discovered Beautiful Dwarfgoby Lives Up To Its Name (Mostly)
  • “Anti-Tail” And Odd 594-Kilometer Feature Found On Interstellar Object 3I/ATLAS By Keck Observatory
  • Why Do We Call It A “Hamburger” When It Doesn’t Contain Ham?
  • What Aristotle Got Wrong About The Octopus
  • The World’s Largest Island Is Shrinking And Shifting
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version