KKR To increase Fuji’s soft bid to 9,850 yen per share, above the bain supply

By Anton Bridge

Tokyo (Reuters) –us Private Equity Firm KKR will increase its offering price for the Japanese IT company Fuji Soft with more than 4% to bring it above a rival range of Bain Capital, said it on Tuesday.

It is the newest Salvo in a long -term bidding war that started in August last year, where KKR and Bain compete to buy Fuji Soft in offers for an offer of a value of no less than $ 2 billion.

KKR increased its price to 9,850 yen ($ 63.44) per share of 9,451 yen per share, and took over the most recent offer of Bain of 9,600 yen ($ 61.82) per share.

KKR currently has an interest of 33.97% in Fuji Soft after the first phase of a two -part bid in which two activist investors – 3D investment partners and farallon Capital – have agreed to register their shares to KKR.

But KKR has not succeeded in protecting a majority because of the higher range of Bain and because the stock price of Fuji Soft has consistently been traded over KKR’s offer.

KKR has repeatedly extended its tender offering period, with the last one ending on Friday.

The shares of Fuji Soft Reden 1.79% on 9,975 yen in early afternoon trade, above both offers.

Bain, which is supported by the founding family of Fuji Soft, has not yet launched his offer offer after he said it would wait for KKR’s offer to fail or to be withdrawn.

Bain was not immediately available for comment on the higher bid of KKR. Fuji Soft refused to comment.

KKR initially offered 8,800 yen a share for Fuji Soft last August. Bain announced his offer, with 9,450 yen per share, the following month, which encourages KKR to collect his offer up to 9,451 yen a share. It had retained its offer price, despite the fact that Bain increased its offer to 9,600 yen.

($ 1 = 155,2800 yen)

(Reporting by Anton Bridge, additional reporting by Kantaro Komiya and Kane Wu; Edit by Chang-Ran Kim and Kate Mayberry)