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Exclusive-Activist fund Oasis backs call for Toshiba to solicit buyout offers – source

SYDNEY/TOKYO (Reuters) – Hong Kong-based activist fund Oasis Management has voted in favour of a shareholder proposal demanding Toshiba (OTC:TOSYY) Corp solicit buyout offers from private equity firms, a source with direct knowledge told Reuters on Wednesday.

Oasis joined a chorus of other hedge fund investors who have opposed the Japanese conglomerate’s plan to break itself up and called on the company to look at alternatives ahead of an extraordinary meeting on Thursday.

The fund voted against the Japanese industrial conglomerate’s plan to break itself up, said the source, who declined to be identified because the matter is private.

Oasis declined to comment.

Toshiba said it would continue to make every effort to gain shareholder support for the break-up plan.

Source : Reuters

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