Private equity firm Blackstone sweetened its bid to buy Japanese property company Unizo by about 7% to 6,000 yen per share, or about 205 billion yen , the Japanese property company said on Feb. 25.
The price tops the 5,700 yen-a-share offer from Lone Star, which was backed by Unizo and is set to expire on Feb. 28. Blackstone said it would only proceed if Unizo agrees with Blackstone’s conditions by April 30. Unizo said it would carefully consider the proposal.Unizo shares were trading as high as 6,010 yen in Tokyo on Feb. 25.
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