Activist investor pressure seen behind surprise $20bn bid for Toshiba
07 April 2021 - 17:25
Tokyo — The surprise takeover bid for Toshiba is a palpable demonstration of the growing influence in corporate Japan of activist investors, who have gone from largely impotent onlookers to kingmakers in the space of just a few years.
The offer from CVC Capital Partners, while still in the early stages, comes just weeks after Toshiba CEO Nobuaki Kurumatani lost a landmark shareholder vote, forcing an independent investigation into alleged issues with voting at its annual general meeting in 2020...
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