Shulou(Shulou.com)11/24 Report--

CTOnews.com, October 24 (Xinhua)-- according to Bloomberg, a consortium led by Japanese Industrial Partners (Japan Industrial Partners Inc), an investment fund, is considering a bid for Toshiba with a value of 2.4 trillion yen. This could be the biggest acquisition in Asia this year.

The consortium plans to provide Y1,000bn in cash, while seeking financing from banks totaling Y1.4 trillion and a committed credit line of 200 billion yen as working capital, according to people familiar with the matter.

He also said Toshiba informed them at a regular meeting with banks such as Sumitomo Mitsui on October 20 that JIP valued the company at about 2.4 trillion yen and asked them to provide financing support.

CTOnews.com learned that Toshiba's share price has risen about 17% this year. Toshiba closed at 5391 yen per share on the Tokyo Stock Exchange on October 24, roughly in line with the offer of 2.4 trillion yen. Toshiba is currently offering US $18.21, with a market capitalization of US $16.004 billion.

JIP has yet to finalize equity commitments from its partners, while banks remain cautious about making binding commitments, people familiar with the matter said.

Japan's Kyodo news agency reported on Oct. 12, citing people familiar with the matter, that the Japanese business alliance at the core of JIP is seeking to buy Toshiba for 2.8 trillion yen ($19.13 billion).

Bloomberg reported that the consortium led by JIP and the state-backed investment fund Japan Investment Corp. It will be difficult for the leading rival groups to complete the commitment letter by the November 7 deadline.

The consideration is still ongoing and it is uncertain whether the negotiations will lead to any deals, people familiar with the matter said. They say Toshiba may still decide to explore some asset sales rather than selling all of its businesses.

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