- Prabowo set to lead bolder Indonesia on world stage
- Tampa zoo rushes Chompers the porcupine and others to safety as Milton nears
- Shanghai stocks pare early surge on stimulus worries amid Asia retreat
- New Japan PM to hold talks on ASEAN sidelines
- Record number of climbers chase 14-peak dream in Tibet
- Former South Korea clinic for US 'comfort women' to be demolished
- China holds off on fresh stimulus but 'confident' will hit growth target
- Chiefs battle past Saints to stay unbeaten
- Deal on climate aid hangs in balance at UN COP29 summit
- Royals hit back against Yankees, Tigers maul Guardians
- German suspect in 'Maddie' case faces verdict in sex crimes trial
- Top economic official 'confident' China will hit 2024 growth target
- COP29 fight looms over climate funds for developing world
- Shanghai stocks soar to extend stimulus rally amid Asia-wide drop
- Australia moves to expand Antarctic marine park
- Tragedy of Madrid street sweeper highlights how heatwaves kill
- Survivors wait for aid as Trump's lies help cloud Helene response
- Fleeing Israeli bombs, Lebanon's displaced met with suspicion
- Jila Mossaed, from refugee poet to Swedish Academy
- Will Tesla's robotaxi reveal live up to hype?
- Drugs, people smuggling at heart of Mexico's raging violence
- 'Invisibility' and quantum computing tipped for physics Nobel
- Musk says he is 'all in' on Trump in US election
- Category 5 Hurricane Milton roars towards storm-battered Florida
- Carpenter bomb stuns Guardians as Tigers level series
- Harris, Trump and Biden mark Oct. 7 attacks as US election looms
- Oil prices extend gains on Mideast tensions, Wall Street falls
- US judge orders Google to open Android to rival app stores
- On attacks anniversary, Israel fights 'sacred' multi-front war
- Nobel scientist uncovered tiny genetic switches with big potential
- Grammy-winning Cissy Houston, mother of Whitney, dies at 91
- UN biodiversity summit in Colombia aims to turn words into action
- Georgia Supreme Court reinstates six-week abortion ban
- 'Dark day': Victims mourned around the globe on Oct. 7 anniversary
- On attacks anniversary, Israel fights multi-front war
- Mexican mayor murdered days after taking office
- Intensifying to Category 5, Hurricane Milton targets Florida
- Mission to probe smashed asteroid launches despite hurricane
- Biden, Harris mark Oct. 7 with call for Mideast peace
- Dupont set for Toulouse return after post-Olympic holiday
- French rugby bosses tighten discipline after nightmare Argentina tour
- Oil prices extend gains on Mideast tensions, Wall Street slips
- Visitors to get rare view of Rome's Trevi Fountain
- Europe's asteroid mission Hera launches despite hurricane
- Man City and Premier League both claim victory in legal case
- Deschamps delight as 'light back on' for Pogba after doping ban
- Biden, Harris urge Mideast peace on Oct. 7 anniversary
- Neeskens, tough midfielder in Cruyff's Ajax and Dutch teams
- UN warns world's water cycle becoming ever more erratic
- Oil prices extend gains on Mideast tensions, Wall Street retreats
RYCEF | -0.15% | 6.87 | $ | |
CMSC | -0.53% | 24.57 | $ | |
RBGPF | 100% | 60.52 | $ | |
GSK | -0.49% | 38.63 | $ | |
NGG | -1.56% | 65.48 | $ | |
RIO | -0.11% | 69.62 | $ | |
BTI | -0.26% | 35.2 | $ | |
BCC | 1.68% | 141.27 | $ | |
SCS | -0.15% | 12.95 | $ | |
JRI | -0.76% | 13.18 | $ | |
RELX | -0.54% | 46.04 | $ | |
AZN | -0.78% | 76.87 | $ | |
VOD | 0.31% | 9.69 | $ | |
BP | 0.78% | 33.14 | $ | |
CMSD | -0.09% | 24.79 | $ | |
BCE | -0.54% | 33.53 | $ |
Toshiba pauses spin-off plan, weighs going private
Troubled Japanese conglomerate Toshiba has said it is suspending its plan to split into two after last month's shareholder vote against the idea and will now weigh the possibility of going private.
The firm announced in a statement Thursday that its management team will lead discussions with private equity funds and other possible investors on potential offers.
A newly formed special committee will also "identify the privatisation offer that is best for our diverse stakeholders" and report back before Toshiba's annual shareholders' meeting in June.
The management team will separately develop a new business plan, which will also be announced before the meeting, Toshiba said.
The decision comes after shareholders, in a non-binding decision, voted against a proposal to split the company into two.
It was the latest setback for the engineering giant, which was once a symbol of Japan's tech and business prowess but has faced a series of scandals, financial troubles and shock high-level resignations in recent years.
The plan had already been revised once after an initial proposal to break up the company into three met stiff resistance.
Several major shareholders argued that a spin-off would only add to Toshiba's woes by creating more managerial posts at smaller units, rather than improving the firm's governance.
And some want a buyout instead, following an abandoned takeover offer last year from private equity fund CVC Capital Partners.
Bain Capital has said it is examining a bid for Toshiba, and the private equity firm has already received backing from one key shareholder.
It could face hurdles though given the national security implications of some of Toshiba's businesses.
D.Kaufman--AMWN