TOKYO, Sept 21 Reuters Toshiba said on Thursday that a 14 billion tender offer from private equity firm Japan Industrial Partners JIP had ended in success a deal which paves the way for the embattled industrial conglomerate to go private.

The JIPled consortium saw 78.65 of Toshiba shares tendered, giving the group a majority of more than twothirds which would be enough to squeeze out remaining shareholders.

The deal puts the 148yearold electronicstopower stations maker in domestic hands after years of battles with overseas activist investors. Toshiba is set to be delisted as early as in December.

Activist shareholders and Toshiba were stuck with each other for years. This takeover allows both sides to escape their mutual bearhug, said analyst Travis Lundy of Quiddity Advisors, who publishes on Smartkarma.

Toshiba in March accepted the buyout offer valuing the industrial conglomerate at 2 trillion yen 13.5 billion. Although some shareholders were unhappy with the price, Toshiba argued that there was no prospect of a higher offer or competing bid.

We are deeply grateful to many of our shareholders for being understanding of the company39;s position, Toshiba Chief Executive Taro Shimada said in a statement on Thursday. Toshiba will now take a major step toward a new future with a new shareholder, he added.

Toshiba has said its complex relationships with various stakeholders, including shareholders with different opinions, have hampered business operations and that…