Bain Capital said it will give up its pursuit of Fuji Soft, ending a monthslong bidding war with KKR to take the Japanese software company private.
The Boston-based private equity firm said in a statement on Monday that it won’t implement a tender offer for Fuji Soft after deciding not to increase the price. The move came after KKR raised its bid to ¥9,850 ($65) per share in early February.
Shares of Fuji Soft, which had traded above KKR’s latest offer, dropped 0.3% to ¥9,843 at 1:13 p.m. in Tokyo. The Yokohama-based tech firm has a market capitalization of about $4.4 billion.
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