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Toshiba Shares Up On Greenlight

Toshiba Shares Up On Greenlight

Toshiba’s share price has lifted by nearly a fifth this week, following news that hedge fund Greenlight Capital has added a stake, while the Japanese conglomerate avoided an immediate court injunction on a planned US$18 billion sale of its chip business.

The hedge fund, run by David Einhorn, said the stock may be worth as much as 400 yen once the company resolves its dispute with Western Digital and clears uncertainties around Westinghouse.

Toshiba shares closed up 19 percent on Tuesday at 275.8 yen, giving the crisis-wracked outfit a market value of around US$10.4 billion.

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