Buyout firm Blackstone and SoftBank-backed Fortress raised their respective offers to acquire Unizo. Both now trump Lone Star’s $1.6 billion deal. The outcome could be a landmark for the country’s M&A and governance standards, explains AlecMac11
Softbank-backed Fortress Investment Group on Jan. 29 raised its offer for Unizo by 27% to 5,200 yen per share after U.S. private equity firm Blackstone Group sweetened its own proposal for the Japanese property company.
Blackstone increased its bid by 12% to 191.6 billion yen on Jan. 28, topping a competing bid from rival Lone Star that is backed by Unizo. Fortress also extended the deadline for a tender offer it initiated for Unizo’s shares in August to Feb. 13 from Feb. 4.
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