January 22, 2020 / 6:14 AM / a month ago

BlackRock built 5% stake in ex-Toshiba unit at centre of takeover battle-filing

FILE PHOTO: The BlackRock logo is seen at the BlackRock Japan headquarters in Tokyo, Japan, October 20, 2016. REUTERS/Toru Hanai

TOKYO (Reuters) - BlackRock Inc (BLK.N) has built a 5.12% stake in Toshiba Machine (6104.T), a former Toshiba Corp (6502.T) subsidiary that has been targeted by Japan’s most prominent activist investor, according to a regulatory filing by the U.S. asset manager.

The revelation by BlackRock on Wednesday came a day after veteran activist investor Yoshiaki Murakami launched an up to $235 million hostile bid for control of the molding company.

Reporting by Makiko Yamazaki; Editing by Muralikumar Anantharaman

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