(Bloomberg) -- Toshiba Corp. climbed after Reuters reported that the company’s preferred bidder is closer to getting financing from banks.
Shares jumped as much as 4.5%, heading for the biggest gain since October, after the report said lenders have become more confident in the post-acquisition plans of the bidding group led by Japan Industrial Partners Inc.
The report, which cited people familiar with the matter, noted that banks haven’t decided how much financing each lender will take on. Toshiba, JIP and the banks declined to comment, Reuters said.
Toshiba has been exploring options for its future including going private. Bloomberg News reported last month that a potential buyout led by JIP was taking longer than anticipated as banks hadn’t yet decided whether to extend loans.
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