© Reuters. FILE PHOTO: The logo of Toshiba Corp. is seen at the company’s facility in Kawasaki, Japan June 10, 2021. REUTERS/Kim Kyung-Hoon/File Photo

TOKYO (Reuters) – Toshiba (OTC:) Corp said on Thursday it has received 10 investment proposals including 8 proposals to go private as the troubled Japanese conglomerate explores strategic options.

The other two proposals were for capital and business alliances in which Toshiba would remain listed.

Toshiba, which has been bedevilled by accounting and governance crises since 2015, set up a special committee in April to solicit proposals after shareholders voted down a management-backed restructuring plan.

The deadline for submitting the non-binding proposals was Monday.

The company said in a statement it will evaluate financing arrangements, the feasibility of the proposals and select potential investors to be given due diligence opportunities after its shareholders meeting on June 28.

Last month, Toshiba said 10 potential investors had signed confidentiality pledges.

According to sources, KKR & Co (NYSE:) Inc, Blackstone (NYSE:) Inc, Bain Capital and Brookfield Asset Management were considering bids.

Japanese firms including Japan Investment Corp, Japan Industrial Partners and Polaris (NYSE:) Capital Group were also looking at participating in bids, sources have also said.

It was not immediately clear which private equity firms had made actual bids or which firms might join hands with others in their proposals.

In steps that investors say have increased the odds of Toshiba agreeing to a take-private deal, the conglomerate has nominated an executive from M&A advisory firm Houlihan Lokey (NYSE:) as chairperson and activist shareholders as outside directors.

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