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MarketScreener Homepage  >  Equities  >  Tokyo  >  UNIZO Holdings Company, Limited    3258   JP3394400000

UNIZO HOLDINGS COMPANY, LIMITED

(3258)
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Blackstone ready to hold more talks with Japan bid target Unizo

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11/07/2019 | 07:57pm EST

Blackstone said on Thursday that Japanese hotel operator Unizo had missed a deadline to agree with conditions set for its proposed $1.6 billion takeover bid, but the U.S. buyout group was prepared to embark on more talks.

Unizo was little known until it became a target for a

hostile bid by travel agent H.I.S. Co in July, but has

since attracted attention from top global funds looking to buy into Japan's property market on the cheap.

Blackstone had told Unizo it would launch a tender offer or explore other options if Unizo did not agree to its offer of 5,000 yen a share, valuing the company at 171.1 billion yen ($1.6 billion) by Wednesday.

"Blackstone has not received Unizo's consent and entry into an agreement between Blackstone and Unizo with respect to the Blackstone offer," the U.S. buyout fund said in a statement.

"Accordingly, Blackstone is currently assessing all available options and remains prepared to engage in further discussions with Unizo," said Blackstone, adding it would issue another statement on Nov 18.

Unizo had originally supported SoftBank Group-backed Fortress Investment Group, which in August offered a white-knight bid of 4,000 yen a share. But it later withdrew its support for Fortress bid, which values Unizo at 137 billion yen ($1.3 billion) and is due to run until Nov. 11.

Unizo shares closed at 5,090 yen on Thursday.

(Reporting by Junko Fujita; Editing by Edmund Blair and Alexander Smith)

Stocks mentioned in the article
ChangeLast1st jan.
H.I.S. CO., LTD. -1.28% 3085 End-of-day quote.-19.87%
SOFTBANK GROUP CORP. 0.16% 4257 End-of-day quote.-39.23%
THE BLACKSTONE GROUP INC. 0.75% 53.92 Delayed Quote.80.88%
UNIZO HOLDINGS COMPANY, LIMITED 0.52% 4825 End-of-day quote.142.10%
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Latest news on UNIZO HOLDINGS COMPANY, LI
12/06Blackstone awaits Unizo response on $1.6 billion buyout proposal
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12/02ANNOUNCEMENT REGARDING AMENDMENTS TO : 3258)” due to Changes of Conditions..
BU
11/27Blackstone says Unizo has not agreed to its $1.6 billion takeover offer
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11/24UNIZO : Japanese hotel group Unizo gets six new buyout offers
RE
11/15ANNOUNCEMENT REGARDING AMENDMENTS TO : 3258)” due to Changes of Conditions..
BU
11/15Fortress plays long game in bidding war for Unizo, lifts offer just a bit
RE
11/11ANNOUNCEMENT REGARDING AMENDMENTS TO : 3258)” due to Changes of Conditions..
BU
11/07Blackstone ready to hold more talks with Japan bid target Unizo
RE
11/07UNIZO : Blackstone ready to hold more talks with Japan bid target Unizo
RE
10/25ANNOUNCEMENT REGARDING AMENDMENTS TO : 3258)” due to Changes of Conditions..
BU
More news
Financials (JPY)
Sales 2020 47 250 M
EBIT 2020 13 500 M
Net income 2020 8 300 M
Debt 2020 -
Yield 2020 1,76%
P/E ratio 2020 19,9x
P/E ratio 2021 20,6x
Capi. / Sales2020 3,49x
Capi. / Sales2021 3,44x
Capitalization 165 B
Technical analysis trends UNIZO HOLDINGS COMPANY, LI
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 2
Average target price 3 100,00  JPY
Last Close Price 4 825,00  JPY
Spread / Highest target -35,8%
Spread / Average Target -35,8%
Spread / Lowest Target -35,8%
EPS Revisions
Managers
NameTitle
Tetsuji Kosaki President & Representative Director
Takao Suzuki Chairman
Masafumi Shinagawa Managing Executive Officer & Finance Manager
Masato Yamamoto Senior MD & Senior Managing Executive Officer
Motoaki Kitayama Independent Director
Sector and Competitors