TOKYO—Toshiba Corp., the troubled Japanese conglomerate exploring strategic options, said it has received eight initial proposals to take it private as well as two proposals for capital alliances that would see it remain listed.
The news comes amid recent signs that Toshiba, which has long been at loggerheads with its large activist shareholder base, is growing more receptive to calls from foreign hedge fund investors to consider going private.
Last month it nominated Akihiro Watanabe, an executive from boutique U.S. investment bank Houlihan Lokey, as chairman of its board and two representatives from activist shareholders as outside directors.
“We are encouraged by the multiple proposals as we feel they reflect big expectations about Toshiba’s potential,” Chief Executive Taro Shimada told a briefing on Thursday where he also unveiled bullish new earnings targets as part of an updated business strategy….