(Reuters) Japanese hotel chain Unizo Holdings (3258.T) said it received a friendly buyout offer worth up to $1.3 billion from a SoftBank Group (9984.T) investment firm, a deal that will help it fend off a rare hostile takeover bid from travel agency H.I.S.-based Fortress Investment Group will launch a tender offer from next week for all of Unizo’s shares at 4,000 yen apiece ($37.68), the companies said in separate statements, trumping the 3,100 yen that H.I.S. (9603.T) has offered.
SoftBank’s Fortress Emerges as White Knight for Hotel Chain Unizo with $1.3 Billion Bid
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