March 7 (Reuters) - Astro Japan Property Group Ltd (AJA) Refers...

March 7 (Reuters) - Astro Japan Property Group Ltd (AJA)

• Refers to press commentary in relation to a proposal to acquire all of japanese real estate assets of aja
• Board did not consider that initial proposal would deliver acceptable value for aja securityholders
• Board determined not to grant due diligence access to lone star funds
• Proposal does not represent a material improvement on initial proposal that was rejected by board
• Board is yet to respond to lone star funds in relation to proposal and remains focused on business-as-usual running of fund