trending Market Intelligence /marketintelligence/en/news-insights/trending/54YHmTiUEbXxyJTrOPxjYg2 content esgSubNav
In This List

Blackstone to launch tender offer for Japanese hotel chain Unizo Holdings

Blog

Banking Essentials Newsletter: July Edition - Part 3

Blog

Gauging Supply Chain Risk In Volatile Times

Blog

Banking Essentials Newsletter: July Edition - Part 2

Blog

Anticipate the Unknown Go Beyond Fundamentals to Uncover Early Signs of Private Company Credit Deterioration


Blackstone to launch tender offer for Japanese hotel chain Unizo Holdings

Blackstone Group Inc. aims to launch a tender offer for Japanese hotel chain Unizo Holdings Co. Ltd. at ¥5,000 per share, Reuters reported, citing a statement from the private equity giant.

The potential bid values Unizo at about ¥171.1 billion and reflects a slight premium to the Japanese company's Oct. 15 closing price of ¥4,700 per share, according to the report. It also represents a sharp premium to Fortress Investment Group LLC's offer of ¥4,000 per share.

According to the statement, Blackstone is looking into any possible options, which includes initiating the bid if Unizo will not agree with its offer by Oct. 23.

A Unizo spokeswoman confirmed to Reuters that it has received the offer from Blackstone but has yet to give a response.

Unizo recently rejected takeover bids from Blackstone and from an investment fund "acknowledged in Japan." It also withdrew its support for SoftBank Group Corp.-backed Fortress' bid and has received offers from Japanese travel agent H.I.S. Co. Ltd.

As of Oct. 14, US$1 was equivalent to ¥108.44.