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Toshiba Says To Consider Initial Takeover Proposal From CVC Capital Partners

Responding to a media report, Japanese conglomerate Toshiba Corp. (TOSYY.PK,TOSBF.PK) confirmed Wednesday that it received an initial proposal from private equity firm CVC Capital Partners Tuesday, and will ask for further clarification and give it careful consideration.

The company noted that the report by Nihon Keizai Shimbun about private equity firm CVC Capital Partners' acquisition proposal to Toshiba is not based on any announcement made by the company.

Toshiba now said it will make a further announcement in due course. The company's board reportedly plans to meet Wednesday to discuss the offer.

In the U.S. OTC markets, TOSYY gained 22.4 percent on Tuesday to close at $21.99, and TOSBF gained 12.9 percent to close at $41.76.

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