Toshiba faces investor call to seek alternatives to $20b CVC bid

A logo of Toshiba Corp is seen outside an electronics retail store in Tokyo, Japan, January 19, 2017. REUTERS/Toru Hanai/File Photo

Toshiba Corp is facing a call from a leading shareholder to seek other offers from potential suitors following a $20 billion buyout bid from private equity firm CVC Capital Partners, according to a statement.

U.S. hedge fund Farallon Capital Management said the Japanese conglomerate should evaluate “the privatisation proposal in a sincere manner through a fair process that includes a proactive market check and formation of an independent special committee,” according to the statement.

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