Bain Capital says it will launch tender offer for Fuji Soft without Fuji board approval
18/12/2024 24:38
TOKYO, Dec 18 (Reuters) - Bain Capital plans to launch a
tender offer for Fuji Soft 9749.T shares even without the
approval of the target firm's board of directors, the U.S.
private equity firm said on Wednesday.
The announcement came a day after the Japanese IT firm
reaffirmed its support for the second stage of a tender offer
buyout from rival KKR KKR.N , turning down a higher offer from
Bain.
Bain has said it would begin its tender offer only with the
approval of Fuji Soft's board. But it now plans to "promptly
launch our tender offer if (KKR's) second round of the tender
offer ends unsuccessful or will be withdrawn," Bain said in its
presentation file.
Bain also said it has "strong concerns and distrust" in Fuji
Soft's response to its proposal.
(Reporting by Mariko Katsumura; Editing by Chris Reese)
((Mariko.Katsumura@thomsonreuters.com;))