Toshiba Corp is in talks with at least four global private equity firms including KKR & Co Inc and Blackstone Inc to seek their ideas for its new strategy, three sources with knowledge of the matter said.

Bain Capital and Canadian investment firm Brookfield have also been tapped by the scandal-hit Japanese conglomerate’s strategic review committee to put together and submit their ideas for Toshiba, the sources said.

Toshiba, which had a market valuation of about $19 billion as of Wednesday, “plans to present the achievements when we announce the new business plan in October”, it said but declined to comment further.

Blackstone, KKR, and Brookfield declined to comment.

At an earnings briefing this month, Toshiba Chief Executive Satoshi Tsunakawa said the company┬áhad been “vigorously engaged in dialogue not only with shareholders but also with financial and strategic investors.”

He also said that the company was open to taking private bids although it had not received any offers since a $20 billion takeover bid from CVC Capital Partners, which was subsequently dismissed in April as lacking details.

Toshiba’s move to talk with the private equity funds has puzzled some investors who have questioned why the company has not started an official process to elicit bids.

Read more/Source: The Edge Markets