Japan's Unizo withdraws support for $1.3b takeover bid by Softbank-backed fund

Japan's Unizo withdraws support for $1.3b takeover bid by Softbank-backed fund

REUTERS/Issei Kato

Japanese hotel operator Unizo Holdings withdrew its support for a $1.3 billion takeover bid by a SoftBankbacked fund, saying it wanted better terms, just a month after it welcomed the “white knight” buyout offer.

The company also said it had received a separate offer from an unnamed third party which it had rejected as insufficient.

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