Toshiba stock surges 6.5% on report of bids at $22-billion valuation

Toshiba shares jumped as much as 6.5 per cent on Thursday after Reuters reported bidders are considering offering up to 7,000 yen per share to take the company private, which would value the deal at about $22 billion.

Toshiba has been soliciting acquisition offers – and other restructuring proposals – as it seeks to end years of mismanagement and mollify activist investors. Ten offers are on the table, including eight to take the company private. The range of pricing and conditions for privatization was widespread, the report said, citing people familiar with the situation. “That suggests that some assets would need