The logo of Toshiba Corp is displayed atop of the company's facility building in Kawasaki, Japan, June 24, 2022. REUTERS/Issei Kato

TMI Associates is advising a consortium led by private equity firm Japan Industrial Partners on its $15.2 billion buyout of Toshiba, which is represented by Nishimura & Asahi.

Davis Polk & Wardwell and Slaughter and May are advising the consortium on the North and South American aspects, and the EMEA aspects of the deal, respectively, while Nagashima Ohno & Tsunematsu and Morrison Foerster are acting as legal advisors to Toshiba's Board of Directors and the Special Committee in this transaction.

If successful, this acquisition would see the scandal-ridden Toshiba taken private and firmly in domestic hands after much tension with overseas activist shareholders, Reuters reported. It is however not yet clear whether activist funds, which are estimated to own roughly a quarter of the company, will be satisfied with the terms as the offer price would give just an about 10 percent premium, Reuters added.

The TMI team is led by senior partner Masakazu Iwakura, with partner Hiroshi Uchima leading the Nishimura team.

The Davis Polk team is led by partners Ken Lebrun, Paul Marquardt, Ronan Harty, and Brian Burnovski. Meanwhile, the Morrison Foerster team is led by partners Ken Siegel, Jeremy White, and Joe Sulzbach.


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