Fuji Soft founder backs buyout by Bain, Nikkei says (updated)
17/10/2024 12:06
(Adds background, more from Fuji Soft founder in paragraphs
3-4)
TOKYO, Oct 17 (Reuters) - Fuji Soft < 9749.T founder
and shareholder Hiroshi Nozawa has sent a letter to the company
expressing his support for a takeover by U.S. buyout fund Bain
Capital, the Nikkei business daily said on Thursday.
Nozawa urged Fuji Soft to withdraw its recommendation for a
buyout by KKR KKR.N , the report said.
Earlier this month, Bain made a binding offer to buy Fuji
Soft for 9,450 yen a share, valuing the Japanese software
developer at $4 billion and outbidding rival KKR by about 7%.
Nozawa said Bain's proposal "clearly serves the common
interests of shareholders", the Nikkei reported.
(Reporting by Kaori Kaneko and David Dolan; Editing by Mark
Potter)
((kaori.kaneko@thomsonreuters.com;))