Bain further delays Fuji Soft tender offer plans, awaits company approval
11/11/2024 15:16
Nov 11 (Reuters) - Bain Capital now expects to launch
its tender offer for Japan's Fuji Soft 9749.T 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 KKR.N .
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
before delaying it 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)
((Aaditya.GovindRao@thomsonreuters.com;))