Blackstone to continue pursuit of Japan's Unizo with tender offer

Photo: Unizo website

Private equity firm Blackstone Group said on Tuesday it would launch a tender offer for Unizo Holdings at 5,000 yen a share, doubling down on its $1.6 billion offer after the proposal was rebuffed by the Japanese hotel chain.

The potential bid from one of the world’s largest buyout funds marks another twist in the takeover saga surrounding the once-obscure hotelier, now seen as a test case for Prime Minister Shinzo Abe’s push for greater transparency and corporate disclosure.

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