Toshiba receives ¥2 tril acquisition give from global fund

Trading in Toshiba stock was halted Wednesday after the Tokyo-based technology conglomerate verified it had received an initial acquisition proposal.

Toshiba Corp. explained it possessed asked for additional information on the proposal it acquired received on Tuesday, was supplying it “careful consideration” and would generate an announcement “in due training.”

Important Japanese newspaper Nikkei reported CVC Capital Partners was looking into acquiring the business for 2 trillion yen ($18 billion).

CVC can be an international private collateral and credit enterprise, which has committed practically $162 billion in funds, managing more than 300 investors. It declined to comment.

Toshiba, founded found in 1875, was long revered as you of Japan’s most pristine makes, developing the nation’s first radar and microwaves, electric rice cookers and laptop computers. It also invented flash memory, the ubiquitous computer system chips that retail outlet and retain data for digital cameras, mobile phones and other gizmos. Toshiba no more makes laptops and provides sold its laptop chips division.

In recent years it's been dogged by ethical questions and has been mired in scandals. In 2015, Toshiba acknowledged it had been systematically falsifying its books since 2008, as managers tried to meet up overly ambitious targets. Another investigation found profits have been inflated and massive expenses hidden.

It invested heavily in nuclear vitality. But following the March 2011 nuclear disaster in Fukushima, costs of the business ballooned due to growing safety issues and a souring of sentiment toward nuclear ability in countries like Germany.

After Toshiba had acquired Westinghouse in 2006 with very much fanfare, the U.S. nuclear product filed for bankruptcy coverage in 2017.

Toshiba is currently tasked with decommissioning nuclear plants found in Japan, like the one found in Fukushima, where critical tsunami damage tripped reactor meltdowns.