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Hedge fund Elliott Management has established a “significant” role at the Japan summit in Toshiba, in addition to what the company’s allies describe as a “wolf group” of shareholders.
The fund, which manages $ 48bn in assets, has held several meetings with committees and advisors of a Japanese company, according to people familiar with the matter. Two people close to Toshiba said Elliott’s price did not exceed 5%.
“The money we have sold to Toshiba shows that we are confident that the company has a great profit,” Elliott confirmed in a statement to the Financial Times. “We have been encouraged and strengthened by our partnership with the company in recent months.”
A person close to Toshiba said Elliott has been involved with the Japanese group “for a while” and has done “great work”, describing how the fund works as a “thinker”.
Toshiba declined to comment, saying it did not cover discussions with shareholders.
Elliott’s move comes as Toshiba’s team approaches the final round of very important monitoring, several have been forced into the company after a shareholder led by those doing this this year removed the superintendents.
Sponsors and special events are listed on Toshiba’s shareholding list in the hope that women will be able to pressure the company to come up with a way to increase its share price.
The list of shareholders in Toshiba has changed dramatically in the past few months, with many of the most likely to reduce their positions after the share share reached six years ($ 45) per share in mid-July.
The full prize, which shareholders have already announced on FT, would be a secret purchase that grows the entire company at a cost of more than $ 30bn. Other items that could include the sale of Toshiba’s large corporations, funds that were used to pay off a large portion of the refund.
People close to Toshiba’s board have said in recent weeks that they have been doing “unprecedented” with those who share the company. A number of opposition allegations have been made that, if the review does not show that Toshiba pursued an opportunity to sell to the state-owned enterprise, he will vote against the future election of the chief executive.
People close to the two big secret currencies said, however, they looked at the price that could be sold by Toshiba and decided against them for the first time.
Toshiba’s monetization reflects Elliott’s most recent campaign in the Japanese market, since took a great price on the SoftBank financial board last year.
The fund has been looking to expand its portfolio in Tokyo to the advantages that the market has recently given to the increase in the sale of non-essential goods by Japanese companies, according to people close to the negotiations.