M&A 2023 Annual Review

34 Morrison Foerster Morrison Foerster advised the board of directors and the Transaction Special Committee of Toshiba on the $15.2 billion tender offer by Japan Industrial Partners to take the company private— the largest take-private in Japanese history. Toshiba’s board approved the bid in March 2023. In September, the consortium’s bid resulted in a 78.65% tender of Toshiba shares.

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