Unizo top shareholder warns board to consider Blackstone offer

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TOKYO (Reuters) – Unizo Holdings’ (T:) top shareholder urged the hotelier on Thursday to consider “in good faith” Blackstone Group’s (N:) 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.

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