Toshiba: Norway sovereign wealth fund backs call to solicit buyout offers

Norway's sovereign wealth fund, the world's largest, voted in favour of a shareholder proposal requesting Toshiba Corp solicit buyout offers from private equity firms ahead of an extraordinary meeting on March 24.

The fund voted against the Japanese industrial conglomerate's plan to break itself up by spinning off its devices business, a voting record showed.

It owns 1.22% of Toshiba, according to Refinitiv.

Similarly, the State Board of Administration of Florida, with a 0.22% stake in Toshiba, voted against the management-backed break-up plan and in favour of the proposal from Singapore-based 3D Investment Partners.

Even though their stakes are small, support from such prominent