TOKYO (Reuters) – Japanese hotel operator Unizo Holdings (T:) said on Wednesday it had not decided how to respond to a tender offer launched by private equity firm Blackstone Group (N:) 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 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.
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