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Business deals

Blackstone extends bid for Japan's Unizo in hot property market

Hotel chain balks at deal, but will ‘continue talks’ with the US investment firm

Low interest rates and the upcoming Tokyo Olympics have driven up property prices in Japan.   © Reuters

TOKYO -- U.S. investment firm Blackstone Group has again given Japanese hotel chain Unizo Holdings more time to respond to its takeover proposal as conflict over the terms prolongs a tug of war over the company and its valuable property holdings.

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