SoftBank Group-owned Fortress raises offer for Japan's Unizo by 2.5%

Photo: Unizo website

Fortress Investment Group raised its bid on Friday for Japanese hotel operator Unizo Holdings by 2.5% but the offer remains well below both the current share price and an offer from a rival suitor.

SoftBank Group-owned Fortress bumped up its bid for Unizo to 4,100 yen per share from 4,000 yen, or $1.3 billion, and extended its tender offer period until Nov. 29, a regulatory filing with the Japanese finance ministry showed.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter