Hedge fund Elliott builds stake in Toshiba – FT

This post was originally published on this site

https://i-invdn-com.investing.com/trkd-images/LYNXMPEH8T0MR_L.jpg

The hedge fund’s stake did not exceed 5%, the report said, citing people close to Toshiba. Elliot has held several meetings with the company’s board and advisers, FT added. (https://on.ft.com/3AVf6Nu)

Toshiba’s reported move comes as the company has been in talks with financial and strategic investors, including KKR & Co (NYSE:KKR) Inc and three other global private equity firms, to seek their ideas for its new strategy.

Earlier this year, Toshiba launched a full review of its current assets after it dismissed a $20 billion takeover bid from CVC Capital Partners as lacking detail.

The results of the review will be presented when the company announces a new mid-term business plan in October.

Toshiba and an Elliott representative did not immediately respond to Reuters requests for comment.