Financing bank fears delay Asia’s largest takeover deal

The Toshiba takeover faces the possibility of falling behind schedule, as bidding groups face funding hurdles to funding bank concerns. The groups, led by Japan Industrial Partners and a rival group led by the state-backed investment fund, are set to meet the deadline in November 7, to provide letters of commitment for what may be the largest acquisition in Asia this year.
Some global banks have become wary about supporting large acquisitions, such as that of Toshiba, amid rising borrowing costs in the US and elsewhere; The market value of the company is about 16 billion dollars.