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By Anton Bridge
Tokyo’s private capital firm (Reuters) -us KKR will increase its offer price for the Japanese IT company Fuji Soft by more than 4% to take it above a rival offer of Bain Capital, he said Tuesday.
It is the last save in a prolonged bidding war that began in August last year, with KKR and Bain competing to buy bidding offers Fuji Soft in a bidding offer worth up to $ 2 billion.
KKR increased its price to 9,850 yen ($ 63.44) per share of 9,451 yen per share, which carries it above the most recent bain offer of 9,600 yen ($ 61.82) per share.
KKR currently has a 33.97% participation in Fuji Soft after the first stage of an offer of two parts in which two activist investors – 3D Investment Partners and Capital Farallon – agreed to present their shares to KKR.
But Kkr has failed to ensure a majority due to the highest bain offer and because the price of Fuji Soft shares has been constantly negotiated above Kkr’s offer.
KKR has repeatedly extended its bidding offer period, and the last one will end on Friday.
Fuji Soft shares increased 1.79% to 9,975 yen in the afternoon trade, above both bidding offers.
Bain, which has the support of the founding family of Fuji Soft, has not yet launched its offer of bidding offer, after having said that it would expect Kkr’s commitment to fail or withdraw.
Bain was not immediately available to comment on KKR’s highest offer. Fuji Soft declined to comment.
Initially, KKR offered 8,800 yen an action for Fuji Soft last August. Bain announced its offer, at 9,450 yen per share, the following month, which led Kkr to increase its offer to 9,451 yen per share. He had maintained its offer price even though Bain increased its offer to 9,600 yen.
($ 1 = 155,2800 yen)
(Reports from Anton Bridge, additional reports by Kantaro Komiya and Kane Wu; Edition of Chang -ran Kim and Kate Mayberry)
