FINANCE

Hedge fund Elliott formed a partnership with Toshiba


ছবি Photo from Reuters file: Toshiba’s logo appears in an industrial area in Kawasaki, Japan, January 1, 201. Reuters / Kim Kyung-hun

(Reuters) – Activist investor Elliott Management has formed a partnership with Japanese organization Toshiba (OTC: Corp), the Financial Times reported on Thursday, quoting people with direct knowledge of the subject.

Citing people close to Toshiba, hedge fund shares do not exceed 5%. Elliott has held multiple meetings with the company’s board and advisers, FT added. (https://on.ft.com/3AVf6Nu)

Toshiba’s move comes as the company seeks out their new strategies for discussions with financial and strategic investors, including KKR & Co (NYSE 🙂 Inc. and three other global private equity firms.

Earlier this year, Toshiba began a full review of its current assets when it rejected a bid for a 20 20 billion acquisition of CVC Capital Partners without elaborating.

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

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

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