CVC, a private equity and investment advisory firm, failed to acquire Toshiba, a producer of consumer and industrial electric and electronic products, for $20bn. Nobuaki Kurumatani, Toshiba CEO and President, confirmed the offer from CVC Capital Partners. CVC is considering a 30% premium over the Japanese industrial group's undisturbed share price. The equity firm will consider recruiting other investors to participate in the acquisition. On April 12, 2021, Farallon Capital Management, Toshiba’s third-largest shareholder holding c. 6% stake, commented on the offer from CVC saying Toshiba should seek alternative bids to maximize shareholders' utility. On April 13, 2021, Oasis Management, Toshiba's shareholder, announced that the take private proposal of CVC is far below fair value and urged Toshiba to seek other offers. On April 20, 2021, Toshiba rebuffed the CVC offer. On April 26, 2021, 3D Investment Partners, the owner of a 7.2% stake in Toshiba, told the company to look for potential suitors, citing Toshiba dissuaded other buyers from bidding by wanting to remain listed. On May 11, 2021, Toshiba's board appointed UBS as financial adviser to help evaluate the private equity bids.