By Makiko Yamazaki
TOKYO (Reuters) – Toshiba’s largest shareholder Effissimo Capital Management has decided to tender shares in the takeover offer led by Japan Industrial Partners (JIP), a source familiar with the matter said on Friday.
Effissimo has 9.89% stake in Toshiba, according to a document filed to Japan’s financial regulator on Thursday.
JIP, a private-equity firm, launched a 4,620 yen-per-share bid to take the industrial conglomerate private last month. It closes on Sept. 20.
At least two-thirds of shareholders need to tender their shares for the bid to succeed.
(Reporting by Makiko Yamazaki; Writing by Kantaro Komiya; Editing by Jacqueline Wong and Neil Fullick)
