Unizo says has not decided how to respond to Blackstone offer

Unizo says has not decided how to respond to Blackstone offer
FILE PHOTO - The ticker and trading information for Blackstone Group is displayed at the post where it is traded on the floor of the New York Stock Exchange (NYSE) April 4, 2016. REUTERS/Brendan McDermid -
Brendan McDermid(Reuters)
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TOKYO (Reuters) – Japanese hotel operator Unizo Holdings <3258.T> said on Wednesday it had not decided how to respond to a tender offer launched by private equity firm Blackstone Group <BX.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 (36.1 pounds) 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.

(Reporting by Chris Gallagher; Editing by Muralikumar Anantharaman)

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