Toshiba turmoil update

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Toshiba turmoil update

Reuters New Service is reporting that shareholders endorsed new members to the board of directors including 2 from hedge fund investors:

Nabeel Bhanji from Elliott Management
Eijiro Imai from Farallon Capital Management
The hedge fund operators are supporting a buyout over a long term strategic approach
The nominations are a sign that the company is becoming more receptive to the idea of being taken private
External director, Mariko Watahiki, tendered her resignation to protest the choices.
Company’s current market value of $18 billion
- Bidders are supposedly offering up to $22 billion to take company private

7/5/229:14 PM

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Toshiba turmoil update

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