Japan’s Toshiba Corp. said Wednesday it received a proposal for acquisition from private-equity firm CVC Capital Partners , in a deal that could be valued at more than $20 billion if completed.
Toshiba said it would seek further details about the offer and consider the proposal carefully.
Toshiba’s market capitalization as of Tuesday’s close was slightly higher tha ¥1.7 trillion, equivalent to $15.8 billion. The Nikkei newspaper said CVC was offering a 30% premium, suggesting the proposal would value Toshiba at slightly more than $20 billion.
CVC declined to comment.
Toshiba shares on the Tokyo Stock Exchange weren’t traded Wednesday morning because of a flood of buy orders even at the upper end of the day’s trading range.
