Deals
Lone Star’s Unizo Offer Raises Bar in Rare Japan Bidding War
- Bid made by a firm set up by Unizo managers, Lone Star Group
- Offer price set at 5,100 yen vs 5,000 proposed by Blackstone
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Unizo Holdings Co.’s latest takeover offer is seen raising the bar for Blackstone Group Inc., which has been the most persistent in the bidding war for the Japanese real-estate operator.
Unizo backed a takeover offer made by its employees in partnership with Lone Star Group worth 174.4 billion yen ($1.6 billion), saying in a statement on Sunday that the offer price of 5,100 yen per common share is above proposals made by other bidders. The stock rose 5.3% to close at 5,160 yen in Tokyo on Monday.