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Toshiba shares plunge on Westinghouse deal costs

Toshiba shares plunge on Westinghouse deal costs

Toshiba Corp.'s shares plunged more than 5 percent Thursday on news the company will shoulder a larger-than-expected cost in its acquisition of the U.S. maker of atomic power plant equipment, Westinghouse Electric Co.
The Japanese electronics company said Wednesday that Ishikawajima-Harima Heavy Industries Co. and the Shaw Group Inc. of the U.S. will be partnering with Toshiba to complete the acquisition of the company from its parent, British Nuclear Fuels PLC.
But trading house Marubeni Corp. decided to withdraw from the group, increasing Toshiba's stake to 77 percent from about 51 percent initially expected. That boosts its burden by roughly US$1.355 billion (


Updated : 2021-06-12 22:03 GMT+08:00