Shareholders Deals Blow to Toshiba’s Plan to Split
(Bloomberg) — Toshiba Corp.’s proposal to split into two companies has been dealt a blow after a prominent shareholder advisory firm came out against the plan.
Institutional Shareholder Services Inc. urged investors in the Japanese conglomerate to reject the proposal, it said in a report dated March 9.
“The spin-off option offers upside to the status quo, but the associated execution risks do not allow for an inescapable conclusion that the split is superior to a privatization,” ISS said in the report.
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