The offer is a 26% premium to Toshiba’s Wednesday closing price, which has sent shares heading to their biggest one-day gain in over a year
Toshiba Corp shares jumped on Thursday following a report that a domestic-led consortium is looking to buy the Japanese conglomerate for $19.1 billion.
A group of firms led by Japan Industrial Partners, a domestic private equity firm, had made the bid, according to the Kyodo news agency.
The bid comes to a 26% premium from Wednesday’s closing price.
Shares of Toshiba jumped 7.5% putting them on track for their biggest one-day gain in more than a year.
The consortium, which includes Chubu Electric Power, has received the right of first refusal in its bid for Toshiba, the Nikkei business daily previously reported.
Toshiba was reportedly exploring strategic alternatives for more than a year.
Reuters reported in August 2021 that Toshiba was in talks with four investment firms.