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<ul>
<li>Just post-close, the Nikkei <a href="https://www.nikkei.com/article/DGXZQOUC016210R01C22A1000000/" target="_blank" rel="noopener">reported</a> Toshiba's Board had agreed a JIP deal at "around ¥2trln." Toshiba confirmed HOURS later indicating language was still being hashed out. And the dividend cancelled.</li>
<li>Toshiba "supports" the deal because it aligns a single shareholder with management goals. They cannot recommend to general shareholders because it is too low. But JIP was the only bidder. </li>
<li>It raises the question of whether activists will submit to "Toshiba Fatigue" at what the Board admits is too low a price, or whether there is still fight left.</li>
</ul>


Just post-close, the Nikkei reported Toshiba's Board had agreed a JIP deal at "around ¥2trln." Toshiba confirmed HOURS later indicating language was still being hashed out. And the dividend cancelled.
Toshiba "supports" the deal because it aligns a single shareholder with management goals. They cannot recommend to general shareholders because it is too low. But JIP was the only bidder. 
It raises the question of whether activists will submit to "Toshiba Fatigue" at what the Board admits is too low a price, or whether there is still fight left.


Toshiba Board to Shareholders:  "Yes, Meh But We Did Our Job, Now It's Up To You (We're Tired Too)"

Toshiba Corp

Toshiba Board to Shareholders: "Yes, Meh But We Did Our Job, Now It's Up To You (We're Tired Too)"