Published 12:42 IST, September 3rd 2024
Bain makes $4.1 billion counter-offer to KKR's takeover bid for Fuji Soft: Report
Bain is believed to have proposed a price of around 9,200 to 9,300 yen for each Fuji Soft share, against KKR's tender offer last month of 8,800 yen a share.
US buyout fund Bain Capital has made a counter-offer to buy Japanese software developer Fuji Soft 9749.T for about 600 billion yen ($4.1 billion), or around 5 per cent higher than private equity firm KKR's bid, the Nikkei newspaper reported on Tuesday.
Bain is believed to have proposed a price of around 9,200 to 9,300 yen for each Fuji Soft share, against KKR's tender offer last month of 8,800 yen a share, the Nikkei said. The stock closed at 8,970 yen on Tuesday.
Fuji Soft's management has been at odds with some of its major shareholders, including Singapore-based fund 3D Investment Partners.
In March, 3D, Fuji Soft's top shareholder with a stake of some 21 per cent, proposed that the company appoint an outside auditor to ensure it fairly review multiple takeover proposals it had received from global private equity firms.
Bain and Fuji Soft both declined to comment on the report.
Updated 12:43 IST, September 3rd 2024