Bain Makes Binding Offer for Fuji Soft, Outbidding KKR by 7%
- Bain plans to start the takeover offer in late October
- Rival KKR had launched a tender offer at ¥8,800 per share
This article is for subscribers only.
Bain Capital made a binding takeover proposal for Fuji Soft Inc. as it seeks to outmaneuver private equity rival KKR & Co., which has offered a lower price for the Japanese software developer.
Bain is proposing to pay ¥9,450 ($63) a share for the company, it said in a statement Friday, which compares with KKR’s ¥8,800 per share offer. Bain plans to start its tender bid in late October if Fuji Soft expresses support for the move, it said.