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4/6, 7:28 PM (Source: TeleTrader)
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CVC Capital to propose to buy Toshiba for $20B - report

Global private equity firm CVC Capital Partners is looking to privatize Toshiba through a tender offer in a deal valued at nearly $20.8 billion or 2.3 trillion yen, Nikkei reported on Tuesday, based on sources familiar with the matter.

CVC is expected to send an official proposal on Wednesday. The equity firm is considering a 30% premium over Toshiba's current share price.

After the news, Toshiba stock prices soared 20.37% to sell for $21.63 at 1:26 pm ET.

Breaking the News / LH