October 17, 2019 / 6:57 AM / a month ago

Unizo top shareholder warns board to consider Blackstone offer

TOKYO, Oct 17 (Reuters) - Unizo Holdings’ top shareholder urged the hotelier on Thursday to consider “in good faith” Blackstone Group’s 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. (Reporting by Junko Fujita; Writing by David Dolan; Editing by Muralikumar Anantharaman)

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