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: 7th February Edition

Case Study

A Bank Outsources Data Gathering to Meet Basel III Regulations

Case Study

An Investment Bank Taps S&P's Real Estate Modeling Expertise

Blog

FIMA EUROPE 2023: Exploring the Intersection of Data, Governance, and Future Trends in Finance


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.