Bain Capital acquires KKR for Fujisoft

TOKYO (Reuters) – US private equity firm Bain Capital said it would not begin a tender acquisition of Fuji Soft on Monday, and it would officially close its acquisition fight with Japanese IT company rival KKR.

Bain said last week that KKR might withdraw Fujisoft’s proposal after he raised an offer over Bain in a months-long bidding war.

Previously, Bain had continued his takeover fight with a rejection from the Fujisoft board, claiming that the rejection had harmed the interests of minority shareholders.

However, KKR raised the offer price to 9,850 yen (65 yen per share) earlier this month, surpassing Bane’s latest 9,600 yen offer in December from 9,451 yen.

“We hope for continued growth of our target companies under new governance led by new shareholders,” Bain Capital said in a statement on its website on Monday.

Saga targets Japanese companies that are considered underutilized assets or ineffective corporate governance, making it an increasingly competitive trading environment in Japan. It symbolizes.

Stocks of Yokohama-based software and systems developer Fuji Soft, worth more than $4 billion, traded at the price of KKR Oron Monday morning at ¥9,850.

($1 = 151.6100 yen)

(People by Breathful Coya; Embed by Chang-Ran Kim and Week Antaraman Ananharaman)