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Business deals

Blackstone sweetens bid to buy Unizo to 5,600 yen per share

 (Blackstone photo from AP)

TOKYO (Reuters) -- Blackstone Group on Tuesday sweetened its proposed offer to buy Unizo Holdings to 5,600 yen a share, challenging a bid by Lone Star, whose 5,100 yen offer was supported by the Japanese hotel chain, a person with direct knowledge of the deal said.

Blackstone's revised offer from 5,000 yen comes ahead of the Feb. 4 deadline for the public tender offer launched by Dallas-based buyout fund Lone Star.

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