Reuters first to report Toshiba board to appoint UBS as adviser for strategic review

Reuters was first to report that Toshiba Corp’s board is set to appoint UBS as financial adviser to work on a strategic review for the Japanese conglomerate as it faces a possible private equity bidding war. Last month, Toshiba became the target of a potential takeover bid, and other bids could be forthcoming. Investment banks have pitched to Toshiba’s independent directors for an advisory role.