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Alarmingly mispriced

3 September 2019 By Alec Macfarlane, Jeffrey Goldfarb

Travel agent H.I.S. ended its unsolicited tilt at Unizo, ceding to SoftBank-owned investment firm Fortress. The unusual hostilities for Japan helped the target’s stock price more than double. This deal, enabled by wider reforms, suggests more value could be hidden in plain sight.

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