KKR to raise Fuji Soft bid to 9,850 yen a share, above Bain’s offer

Anton with a bridge

Tokyo (Reuters) -u private brand KKR will increase the price of its offer for the Japanese IT company with more than 4% for Fuji Soft, for Bain Capital’s competitor on Tuesday.

It is the last Salvo in the long-term competition war, which began in August last year, Beyney, competing for offers for offers of the Fuji Soft offer, which cost $ 2 billion.

KKR raised its price for 9,850 yen (63.44 dollars), 9,451 yen per share, taking Baine’s latest offer – 9,600 yen ($ 61.82).

Currently, Fuji Stake has 33.97% shares in the first stage of the application, in which two activists investments: 3D Investment Partners and Faralon Capital – have agreed to compete with KKR.

But KKR has not been able to provide majority due to Baine’s highest proposal, and since the price of Fuji Soft shares has been consistently sold since the CCC offer.

KKR has repeatedly extended the period of the competition offer during which the last end has been completed.

Fuji Soft’s shares increased by 1.79% to 9,975 yen in front of the early afternoon, like competition proposals.

Bane, which supports Fuji’s soft family, has never started the application for its tender offer, saying that the CCC will fail or remove.

Baine was not immediately available for the comment of a higher KKR application. Fuji Soft refused to comment.

KKR initially offered 8,800 yen stake for Fuji Soft in the last August. Beyen announced his application, according to each share of 9,450 yen, prompting that KKR raise his proposal. It maintained the price of his offer, despite the Bain, adding its offer to 9,600 yen.

($ 1 = 155.2800 yen)

(Report by Anton Bridge, additional report, Kantaro Komiya and Kane Wu; Editing by Chang-Ran Kim and Kate Mayberry)