Toshiba completes $13.5b offer to go private
Japanese industrial giant Toshiba marked the end of an era as a listed company on Thursday as it announced that a private consortium had bought almost 80 percent of its shares.
Remaining shareholders will be "squeezed out" after the $13.5-billion tender offer and Toshiba shares will be delisted after more than 70 years on the stock market, Toshiba said.
Toshiba traces its roots back to 1875 and evolved into a vast conglomerate in the 20th century synonymous with Japan's postwar economic revival and its technological innovation.
The firm became a household name in Japan and beyond, making everything from early laptop computers, elevators and nuclear power stations to microchips.
But it has lurched from crisis to crisis in recent years, including a huge accounting scandal in 2015 and billions of dollars in losses from US nuclear subsidiary Westinghouse.