Hotel group Unizo attracts six more bids
Blackstone Group’s US$1.6 billion bid to buy Japanese hotel operator Unizo Holdings is not a done deal yet.
Unizo said it has received offers from six more bidders.
These include four foreign investment firms but said none of the offers meets its demands.
Blackstone tabled a 5,000 yen per share bid last month, and Unizo is still in discussions with the company.
Last week Blackstone extended its deadline for Unizo to respond to the offer.
Another company, Fortress had also submitted a $1.3 billion offer before the latestt bids were received.
Unizo said this week it will only accept bids of at least 5,000 yen per share, and some of the new bidders are considering submitting improved offers.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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