Hotel News

SoftBank’s Fortress emerges as white knight for hotel chain Unizo with $1.3 billion bid | News

By Junko Fujita

TOKYO (Reuters) – Japanese hotel chain Unizo Holdings <3258.T> said it received a friendly buyout offer worth up to $1.3 billion from a SoftBank Group <9984.T> investment firm, a deal that will help it fend off a rare hostile takeover bid from travel agency H.I.S. Co.

U.S.-based Fortress Investment Group will launch a tender offer from next week for all of Unizo’s shares at 4,000 yen apiece ($37.68), the companies said in separate statements, trumping the 3,100 yen that H.I.S….

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