(Reuters) – Bain Capital now expects to launch its tender offer for Japan’s Fuji Soft in mid-to-late November as it continues to await company approval, the private equity firm announced on Monday, amid a buyout competition with rival giant KKR. The private equity firms are engaged in a $4 billion acquisition battle for the software […]
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Bain further delays Fuji Soft tender offer plans, awaits company approval
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(Reuters) – Bain Capital now expects to launch its tender offer for Japan’s Fuji Soft in mid-to-late November as it continues to await company approval, the private equity firm announced on Monday, amid a buyout competition with rival giant KKR.
The private equity firms are engaged in a $4 billion acquisition battle for the software company, a deal that highlights Japan’s revival as a target for global takeovers.
KKR, meanwhile, became the largest shareholder in Fuji Soft last week, after completing the first part of its two-stage buyout tender offer, even as Bain’s proposal outbids it by about 7%.
Bain had first planned to launch its offer in mid-October as it continues discussions in order to secure the affirmative opinion from the Japanese company that it has set as a condition for the launch.
(Reporting by Aaditya Govind Rao in Bengaluru; Editing by Vijay Kishore)