August 16, 2019 / 12:23 AM / 8 days ago

SoftBank-owned Fortress to make rival bid for Unizo - Nikkei

TOKYO, Aug 16 (Reuters) - Fortress Investment Group, an investment firm owned by SoftBank Group, will offer to buy Japanese hotel operator Unizo Holdings Co, launching a counter bid against travel agency H.I.S. Co , the Nikkei reported on Friday.

Fortress will a launch tender offer as soon as the start of next week for all the shares in Unizo at a price higher than H.I.S.’s offer of 3,100 yen, the Nikkei said, adding that Unizo would be delisted.

Unizo, which opposes H.I.S.’s bid, has sought help from Fortress as a ‘white knight’, the Japanese daily said, without citing sources.

Fortress and H.I.S. were not immediately reachable for comment.

$1 = 106.0600 yen Reporting by Chris Gallagher; Additional reporting by Antoni Slodkowski; editing by Richard Pullin

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