Following the announcement of a $19 billion acquisition bid, Toshiba shares surge

Shares of Toshiba (OTC:TOSYY) Corp rose about 9 percent in Thursday morning trading, following news that a group of domestic investors is trying to acquire the Japanese conglomerate for 2.8 trillion yen ($19.1 billion).

A consortium led by Japan Industrial Partners, a Japanese private equity group, made the bid, which represented a 26% premium over Wednesday's closing price, according to Kyodo.

According to the Japanese business newspaper Nikkei, the consortium, which includes Chubu Electric Power Co, was granted the right of first refusal in its bid for Toshiba.

In Tokyo morning trade, Toshiba shares rose 8.5% to 5,566 yen, putting them on course for their highest one-day gain in almost a year.