KKR has secured enough shares of Fuji Soft in a tender offer to take the company private, formally ending a monthslong bidding war against Bain Capital.
Completion of the two-stage offer will give KKR a 57.92% stake in the Japanese software company, the New York-based firm said in a statement on Thursday. It aims to acquire the remaining shares through a squeeze-out process at an extraordinary shareholder meeting scheduled for late April.
Bain Capital said earlier this week that it decided not to increase its offer price and proceed with a previously announced hostile bid for Yokohama-based Fuji Soft. The two investment firms had both raised their offers multiple times in recent months. KKR’s most recent bid at ¥9,850 per share, announced in early February, values Fuji Soft at around $4.4 billion.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.