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)