US hedge fund Farallon calls on Toshiba to get two-thirds of shareholders to back break-up


TOKYO (Reuters) – Farallon Capital Management on Tuesday urged Toshiba Corp to require the help of two-thirds of its shareholders earlier than persevering with with a controversial plan to break up in three.

“The separation plan with out shareholder belief would obtain nothing however the creation of three discrete corporations, with every inheriting the identical points as Toshiba,” Farallon, the third-largest shareholder with a stake of greater than 6% in Toshiba, stated in a press release.

A vote might be held on the matter at a shareholder assembly in March.

(Reporting by Makiko Yamazaki; Editing by Kirsten Donovan)

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