TOKYO: Japanese hotel chain Unizo Holdings said on Sunday it had received a friendly buyout offer from U.S. investment fund Lone Star, a deal that could end a five-month takeover battle involving Blackstone Group , Fortress Investment Group and activist investor Elliott Management.
Unizo was little known until it became a target of a hostile bid from Japanese travel agent H.I.S. Co in July. The company at one stage turned to SoftBank Group-owned Fortress to fend off the bid, but later withdrew its support for the white-knight offer.In October Blackstone emerged as a potential bidder offering 5,000 yen per share, but it has not launched a bid.Unizo said it would oppose Fortress's bid and would end talks with Blackstone.
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Source: BusinessTimes - 🏆 15. / 51 Read more »