SoftBank-owned Fortress left as sole bidder for Unizo after HIS bows out

SoftBank-owned Fortress left as sole bidder for Unizo after HIS bows out

FILE PHOTO: People walk past a retail shop of the SoftBank telecommunications company in Tokyo, Japan, May 10, 2016. REUTERS/Thomas Peter/File Photo

Japanese travel agency H.I.S. Co has given up its bid for a controlling stake in Unizo Holdings, Nikkei Business reported on Friday, after a SoftBank-owned firm made a $1.3 billion ‘white knight’ offer for the hotel operator.

Without citing sources, Nikkei Business said H.I.S. was abandoning the bid after deciding not to raise its offer price of 3,100 yen per share to buy another 40% of Unizo.

Bring stories like this into your inbox every day.

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