Toshiba Shares jump after Japanese Conglomerate opens Door to Buyout

Shares of Toshiba Corp jumped nearly 5% in Tokyo trade on Friday, after the embattled Japanese conglomerate said it would solicit deal offers, including on a potential buyout, bolstering hopes of a lucrative exit for its hedge fund investors.

Toshiba, which has been locked in a years-long battle with some of its major shareholders over its direction, said on Thursday it had hired Nomura Securities as a financial adviser on strategic alternatives, including a potential privatisation.