In an open letter, the fund, which holds a 7.2 percent stake in Toshiba, suggested the Japanese manufacturer "invite and encourage participation by private equity firms and strategic acquirers alike by informing such parties that their interest is welcome and Toshiba is willing to objectively consider all forms of ownership."
The Japanese company said last week that
In the statement, 3D said "public shareholders will have no choice but to seek a more significant and ongoing role in governance" if the board of the Japanese electronics and infrastructure giant "cannot demonstrate that it has objectively and properly considered" its request.
The
Meanwhile, 3D said it is "not inclined to have Toshiba sell itself to a new owner unless such a transaction would provide full and fair value" to the Japanese company's shareholders.
The fund said a fair value of the Japanese firm's stock is "in excess of
==Kyodo
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