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Japan's Toshiba studies acquisition proposal by global fund

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TOKYO – Trading in Toshiba stock was halted Wednesday after the Tokyo-based technology conglomerate confirmed it had received a preliminary acquisition proposal.

Toshiba Corp. said Tuesday it had asked for more details on the proposal, was giving it “careful consideration” and would make an announcement “in due course.” Major Japanese newspaper Nikkei reported CVC Capital Partners was looking into acquiring the company for 2 trillion yen ($18 billion).

CVC is an international private equity and credit company, which has committed nearly $162 billion in funds, managing more than 300 investors.

It declined to comment. Toshiba, founded in 1875, was long revered as one of Japan’s most pristine brands, developing the nation’s first radar and

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