The energy utility's Tokyo-listed shares fell 6% in afternoon trading on Wednesday after a report it might join a state-backed bid to buy the troubled conglomerate

Toshiba, which has been locked in a years-long battle with some of its major shareholders, said it had hired Nomura Securities as a financial adviser

Under the proposal, Pendal's shareholders will get one Perpetual share for every 7.5 Pendal shares, along with A$1.67 in cash, taking the offer price to A$6.23 per share

The Sydney airport takeover, one of Australia's biggest-ever buyouts, was backed by 96% of proxy votes cast, but 20% of shareholders representing a 4% stake were against it

A deal is reportedly near with French energy giant EDF to force China's state-owned CGN to offload its stake in a nuclear power project