Unizo top shareholder warns board to consider Blackstone offer

TOKYO (Reuters) – Unizo Holdings’ (T:) top shareholder urged the hotelier on Thursday to consider “in good faith” Blackstone Group’s (N:) proposed $1.6 billion tender offer, warning it would consider measures if the board fails to act in accordance with its duty.

The warning from Elliott Management, in a statement, comes after Unizo had previously rebuffed an offer from Blackstone. The buyout group this week ratcheted up its pursuit of the company by launching the buyout offer.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.