ICYMI: Japan's Toshiba said it plans to hold a general meeting of shareholders on March 24, to seek initial approval for the board's restructuring plan. The final vote to determine whether to break up the company won't happen until next year
plans an extraordinary general meeting of shareholders on March 24, to seek their initial approval to hive off its devices business, the company said on Monday.
The final, legally binding vote to determine whether to break up the 146-year-old conglomerate will not happen until next year, but next month's meeting will be a key gauge of shareholder support for the board's restructuring plan.Register now for FREE unlimited access to Reuters.
If the breakup plan failed to win majority support, however, all options will be considered, including a deal to take the company private, Tsunakawa said. Such a deal is seen as a potentially greater windfall for shareholders, including the foreign activists that now own nearly 30% of the company. The logo of Toshiba Corp. is seen at the company's facility in Kawasaki, Japan June 10, 2021. REUTERS/Kim Kyung-Hoon
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