Toshiba said it would seek further details about the offer and consider the proposal carefully.
Japanese government approval would be needed for a foreign buyer to acquire Toshiba because of its involvement in infrastructure businesses in Japan, including maintenance of nuclear power plants. Fumio Matsumoto, chief strategist at Okasan Securities, said that would add uncertainty to the deal. But he said that simplifying Toshiba’s shareholder structure might appeal to regulators after recent disputes between foreign shareholders and Toshiba’s management.
At a special meeting in March, shareholders approved a proposal by Effissimo Capital Management Pte. to appoint investigators to examine whether voting at a shareholders’ meeting last year was conducted fairly.
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