SoftBank-backed Fortress Investment ups offer for Japan’s Unizo

SoftBank-backed Fortress Investment Group has raised its offer for Unizo Holdings Co by 27% to 5,200 yen per share after Blackstone Group sweetened its offer as the bidding war for the Japanese hotel operator heats up.

U.S. private equity firm Blackstone Group on Tuesday raised its proposed offer by 12% to 5,600 yen, topping a rival bid of 5,100 yen from U.S. buyout fund Lone Star that is backed by the Japanese hotelier.

Unizo in July was the target of a hostile bid by Japanese travel agent H.I.S. Co. Unizo at one stage turned to Fortress Investment to fend off that bid. But later it withdrew its support for Fortress‘ offer.

Fortress was running its bid at 4,100 yen per share without Unizo’s support. Its renewed bid will continue till Feb. 13, according to the filing.

Blackstone has said it would launch its bid only if Unizo supports it.

Reuters

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.