H.I.S. to withdraw from battle for Unizo - Nikkei Business

HIS Co

23/08/2019 24:12

TOKYO, Aug 23 (Reuters) - Japanese travel services provider
H.I.S. Co  9603.T  plans to withdraw from the battle for control
over Unizo Holdings  3258.T  after the hotel operator received a
higher offer from an investment group, Nikkei Business reported
on Friday.
    H.I.S., which already owns 4.79% of Unizo, last month
launched a tender offer to buy about 40% of Unizo shares at
3,100 yen apiece.
    But Unizo rejected H.I.S.'s offer, instead supporting a
rival offer from SoftBank  9434.T -owned Fortress Investment
Group to buy all of the shares in the company for 4,000 yen
each. H.I.S. was not immediately available for comment.

 (Reporting by Chris Gallagher; editing by Jane Wardell)
 ((chris.gallagher@thomsonreuters.com; 81-3-6441-1842;))