$20bn takeover bid ups Toshiba shares in U.S.

Shares of Japanese company, Toshiba, listed in the United States has gone up by almost 20 per cent after a takeover bid of $20bn from a British private equity fund was revealed.

Toshiba’s Chief Executive and President, Nobuai Kurumatani, confirmed the offer from CVC Capital Partners.

Shares from the company have been temporarily stopped after the bid confirmation by CVC Capital Partners.

According to reports, Toshiba will be focusing on renewable energy and other core businesses.