Struggling Toshiba Corp (6502.T) plans to sell its entire medical equipment unit rather than just a controlling stake, people familiar with matter said, adding that aggressive bidding could value the business at much more than initial estimates of $3.5 billion.
The deal will provide much needed liquidity to Toshiba, which is grappling with the fallout from an accounting scandal, warning this month that its annual loss will be larger than previously estimated. Rising restructuring costs have prompted management to pursue an entire sale of Toshiba Medical Systems Corp, the people said.
