TOKYO, March 23 Reuters Toshiba Corp39;s board on Thursday accepted a buyout offer from a group led by private equity firm Japan Industrial Partners JIP, ending months of speculation over whether the investors would be able to take it private.
The deal would potentially draw a line under the Japanese conglomerate39;s recent troubled history. Here is a timeline of Toshiba39; woes since 2015.
2015 Toshiba discloses accounting malpractices across multiple divisions, which involved top management. It overstated pretax profit by 230 billion yen 1.8 billion over seven years.
Dec. 2016 Toshiba says it will take a charge of several billion dollars related to a nuclear power plant construction company that U.S. unit Westinghouse Electric had bought a year earlier.
March 2017 Westinghouse files for Chapter 11 bankruptcy. Faced with more than 6 billion in liabilities linked to Westinghouse, Toshiba decides to put prized chip unit Toshiba Memory up for sale.
Sept. 2017 Toshiba agrees to sell the chip business to a consortium led by Bain Capital for 18 billion, while retaining a large stake.
The company is desperate to close the deal by the end of the financial year in March to help right its finances and avoid a potential delisting.
That is jeopardised by a prolonged dispute over the sale with Western Digital Corp, its partner in a chip joint venture. Antitrust reviews are expected to take months.
Dec. 2017 Toshiba secures a 5.4 billion cash injection from more than 30…