TOKYO, Sept 15 Reuters Toshiba39;s largest shareholder Effissimo Capital Management has decided to tender its 9.9 stake in the 14 billion takeover offer by Japan Industrial Partners JIP, a source said on Friday, raising the odds of the bid succeeding.

JIP, a private equity firm, launched a 4,620 yenpershare bid to take Toshiba private last month, a move that would put the electronicstopower stations maker in domestic hands after years of battles with overseas activist shareholders.

The offer, which will end on Sept. 20, needs at least twothirds of shareholders to tender their shares for it to succeed.

Singaporebased Effissimo made the decision to tender its stake as a result of dialogue with Toshiba and related parties including the tender offerer, said the source with knowledge of the matter, who declined to be identified as news is not public.

We welcome our shareholders to tender shares, Toshiba said in a statement in response.

Other major shareholders, Elliott Management and Farallon Capital Management, both have their executives on Toshiba39;s board which has unanimously approved the JIP takeover.

Major Toshiba Corp shareholder 3D Investment Partners scaled back its stake the day before the Japanese conglomerate announced it had accepted a higher priced takeover bid, a regulatory filing showed on Wednesday.

Singaporebased fund 3D Investment Partners, previously Toshiba39;s secondlargest shareholder, revealed in a filing in March that it had cut its stake to…