Tokyo-based hotelier Unizo is holding firm and rejecting a $1.6 billion takeover bid from Blackstone. It’s surprising because what’s on offer from the buyout shop looks fairly tantalising, says jgfarb
Japanese hotel operator Unizo said on Oct. 16 that it had not decided how to respond to a $1.6 billion takeover bid from private equity firm Blackstone a day earlier and would consult with a special committee on how to proceed.
Blackstone said it would initiate a tender offer at 5,000 yen a share after its entreaty was earlier rejected by Unizo. The buyout firm added that its offer was conditional on Unizo agreeing to the terms, but also said it would consider all its options if the company did not consent.
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