Unizo says has not decided how to respond to Blackstone offer

TOKYO (Reuters) - Japanese hotel operator Unizo Holdings said on Wednesday it had not decided how to respond to a tender offer launched by private equity firm Blackstone Group and would consult with a special committee on how to proceed. Blackstone said on Tuesday it would launch a tender offer for Unizo at 5,000 yen (36.1 pounds) a share, doubling down on its $1.6 billion offer after the proposal was rebuffed by the Japanese hotel chain. Unizo said in a statement it had learned about the tender offer from a press release issued through PR Times but had not been contacted by Blackstone

Reuters October 16, 2019 07:05:19 IST
Unizo says has not decided how to respond to Blackstone offer

Unizo says has not decided how to respond to Blackstone offer

TOKYO (Reuters) - Japanese hotel operator Unizo Holdings <3258.T> said on Wednesday it had not decided how to respond to a tender offer launched by private equity firm Blackstone Group and would consult with a special committee on how to proceed.

Blackstone said on Tuesday it would launch a tender offer for Unizo at 5,000 yen (36.1 pounds) a share, doubling down on its $1.6 billion offer after the proposal was rebuffed by the Japanese hotel chain.

Unizo said in a statement it had learned about the tender offer from a press release issued through PR Times but had not been contacted by Blackstone.

Shares of Unizo rose as high as 4,965 yen, up 5.6%, in early trade in Tokyo on Wednesday.

(Reporting by Chris Gallagher; Editing by Muralikumar Anantharaman)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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