JIP-led consortium submits Toshiba takeover bid after securing over $10b loans

JIP-led consortium submits Toshiba takeover bid after securing over $10b loans

FILE PHOTO: The logo of Toshiba Corp. is displayed atop of the company's facility building in Kawasaki, Japan June 24, 2022. REUTERS/Issei Kato/File Photo

A consortium led by Japan Industrial Partners (JIP) has formally submitted a proposal to Toshiba Corp to take the troubled conglomerate private after securing commitments for 1.4 trillion yen ($10.6 billion) of loans, sources said.