Toshiba shares surge on imminent CEO resignation, bidding war expectations

Topics Toshiba Corp | Toshiba | Technology


TOKYO (Reuters) - Shares in Japan's Toshiba Corp surged on Wednesday, propelled higher by reports of more plans of bids for the conglomerate and expectations that its embattled chief executive would soon resign.

CEO Nobuaki Kurumatani is planning to resign amid controversy over a $20 billion buyout bid from his former employer, CVC Capital Partners, a source with knowledge of his decision told Reuters on Tuesday. Toshiba said its board is meeting on Wednesday to discuss management issues but that reports about Kurumatani resigning.....

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