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Toshiba Corp.
6502,
shares rose sharply Friday morning after Bain Capital said it was examining a possible bid for the Japanese industrial company.
The shares were recently 5.3% higher at 4,898 yen ($40.25) after rising as much as 6.3% earlier.
Bain Capital said Thursday after market close that it wanted to hold careful discussions with Toshiba’s management, the Japanese government and banks over a possible tender offer. In a statement on its website, The U.S. private-equity firm cautioned that no decisions have been made.
Toshiba shares have mostly traded in a range between Y4,500 and Y5,000 for the past several months as expectations, and doubts, continue over a possible takeover by private-equity firms and other investors.
Toshiba runs nuclear-power and defense-equipment businesses among the enterprises of its vast portfolio.
Bain Capital made the comments after a major Toshiba shareholder, Effissimo Capital Management Pte. Ltd., said in a regulatory filing that it would sell its stake to Bain Capital if the private-equity firm started a tender offer for the company.
Toshiba said it wasn’t involved in the discussions between Effissimo and Bain over a possible Bain takeover bid.
