Toshiba Corp. late Monday emerged victorious in the frenzied auction for Westinghouse Electric Co., but analysts caution that the Japanese company could find it hard to justify the $5 billion purchase price it has reportedly agreed to pay. The deal is expected to be controversial in U.S. government circles, with the Bush administration endorsing a rival bid by General Electric Co. and Hitachi Ltd. that would have returned partial ownership of Westinghouse to domestic hands.
January 25, 2006 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Toshiba Corp. late Monday emerged victorious in the frenzied auction for Westinghouse Electric Co., but analysts caution that the Japanese company could find it hard to justify the $5 billion purchase price it has reportedly agreed to pay.
Terms of the deal were not disclosed, but multiple industry sources said Tuesday that the Japanese company had won the N.M. Rothschild & Sons Ltd.-run auction with a bid of more than $5 billion for the nuclear power plant builder.
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