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

HIS Co

16/08/2019 01:02

TOKYO, Aug 16 (Reuters) - Fortress Investment Group, an
investment firm owned by SoftBank Group  9984.T , will offer to
buy Japanese hotel operator Unizo Holdings Co  3258.T ,
launching a counter bid against travel agency H.I.S. Co
 9603.T , 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)
 ((chris.gallagher@thomsonreuters.com; 81-3-6441-1842;))