Rocky Road to Toshiba Deal Raises Doubts About a Future Comeback

Wary lenders, a watchful government, activist investors scrutinizing every move. Add to the mix infighting among prospective buyers, including a consortium involving more than 20 different Japanese companies and financial institutions.

It’s no wonder that Toshiba Corp.’s buyout decision was delayed for months.

The rocky road to the storied conglomerate’s $15 billion sale to a group led by private equity firm Japan Industrial Partners Inc. is raising fresh doubts about Toshiba’s ability to navigate a fast-changing tech landscape, given all the competing interests tugging at it.

The fear is “if the new CEO still has to cater to many, ...