Troubled Toshiba announces buyout offer led by Japanese businesses

The move will take the company private (Alamy)

Toshiba has announced a two trillion yen (£11 billion) tender offer in a move that would take it private, as the scandal-tarnished Japanese electronics and energy giant seeks to turn itself around.

The tender offer, led by a buyout fund of major Japanese banks and companies called Japan Industrial Partners, starts on Tuesday and is priced at 4,620 yen (around £25) a share.