Blackstone said on Thursday that Japanese hotel operator Unizo had missed a deadline to agree with conditions set for its proposed $1.6 billion takeover bid, but the U.S. buyout group was prepared to embark on more talks.
Unizo was little known until it became a target for a hostile bid by travel agent H.I.S. Co in July, but has since attracted attention from top global funds looking to buy into Japan’s property market on the cheap.
