TOKYO -- Toshiba's board has suggested it is waiting for further details of a privatization proposal from CVC Capital Partners, two days after Nikkei reported that the private equity firm was considering leading a $20 billion buyout of the Japanese engineering conglomerate. In its most detailed response so far, the company's board chair Osamu Nagayama said CVC's proposal was "completely unsolicited" and pointed to complexities surrounding any transaction, including regulatory approval and financing. "[The] Toshiba board will conduct careful review of the initial proposal when it is further clarified in the future," Nagayama said.