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Toshiba shareholders reject plans

In Tokyo, Japan, shareholders overwhelmingly rejected Toshiba’s management’s proposal to split the
company into two public companies

  • Instead, activist shareholders are demanding that Toshiba accept bids from private equity investment groups to sell entire company
  • Reuters News Service is reporting that Toshiba may sell off its Elevator division to Otis Worldwide for potential selling price of $4 billion
    “analysts expect sales of some assets such as Toshiba Tec (printers and MFPs)”
  • New CEO Taro Shimada stated “would consider various strategic options”

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