• 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

  • Unethical Experiments: When Scientists Really Should Have Stopped What They Were Doing Immediately
  • The First Humans Were Hunted By Leopards And Weren’t The Apex Predators We Thought They Were
  • Earth’s Passage Through The Galaxy Might Be Written In Its Rocks
  • What Is An Einstein Cross – And Why Is The Latest One Such A Unique Find?
  • If We Found Life On Mars, What Would That Mean For The Fermi Paradox And The Great Filter?
  • The Longest Living Mammals Are Giants That Live Up To 200 Years In The Icy Arctic
  • Entirely New Virus Detected In Bat Urine, And It’s Only The 4th Of Its Kind Ever Isolated
  • The First Ever Full Asteroid History: From Its Doomed Discovery To Collecting Its Meteorites
  • World’s Oldest Pachycephalosaur Fossil Pushes Back These Dinosaurs’ Emergence By 15 Million Years
  • The Hole In The Ozone Layer Is Healing And On Track For Full Recovery In The 21st Century, Thanks To Science
  • First Sweet Potato Genome Reveals They’re Hybrids With A Puzzling Past And 6 Sets Of Chromosomes
  • Why Is The Top Of Canada So Sparsely Populated? Meet The “Canadian Shield”
  • Humans Are In The Middle Of “A Great Evolutionary Transition”, New Paper Claims
  • Why Do Some Toilets Have Two Flush Buttons?
  • 130-Year-Old Butter Additive Discovered In Danish Basement Contains Bacteria From The 1890s
  • Prehistoric Humans Made Necklaces From Marine Mollusk Fossils 20,000 Years Ago
  • Zond 5: In 1968 Two Soviet Steppe Tortoises Beat Humans To Orbiting Around The Moon
  • Why Cats Adapted This Defense Mechanism From Snakes
  • Mother Orca Seen Carrying Dead Calf Once Again On Washington Coast
  • A Busy Spider Season Is Brewing: Why This Fall Could See A Boom Of Arachnid Activity
  • 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