TOKYO HONG KONG Reuters - Bidders for Toshiba Corp are considering offering up to 7,000 yen $51.41 per share to take the troubled Japanese conglomerate private, three people familiar with the situation told Reuters the deal was about $22 billion.
Toshiba, a company that is exploring strategic options, has received eight initial buyout proposals and two proposals for capital alliances that will see it remain listed this month.
The people said that there was a 27% premium to Toshiba's share price as of Wednesday's close, and that the bidders are talking about an offer price range of up to 7,000 yen a share with Toshiba's shareholders.
The range of offers had been wide spread, and various conditions have been attached, according to a separate source.
The offer price, if finalised, would be Toshiba's 3 trillion yen $22.02 billion at the top end of the range.
Toshiba said in a statement to Reuters that it wouldn't reveal details of the proposals.
KKR Co Inc, Baring Private Equity Asia, Blackstone Inc, Bain Capital, Brookfield Asset Management, MBK Partners, Apollo Global Management and CVC Capital Partners have submitted initial bids, according to the people.
They added that some of them may form consortia for a bid.
Bain, Brookfield, Baring, CVC, and MBK didn't want to say anything. The other funds did not respond immediately to requests for comment.
Domestic funds, including Japan Investment Corp, and a number of strategic players, are looking to see how they can participate in the deal, the people said, declining to be named because they were not allowed to speak to the media.