KKR Extends Tender Offer for Fuji Soft

TOKYO (Reuters) – KKR extended its tender offer period for Fuji Soft to Jan. 9 as it competes with Bain Capital for control of the Japanese software maker.

KKR stated that its offer price remains unchanged.

Currently, KKR owns about 34% of Fuji Soft after the first stage of its two-part tender offer, primarily through shares tendered by activist shareholders 3D Investment Partners and Farallon Capital Management at 8,800 yen each.

Last month, KKR raised its offer price for Fuji Soft to 9,451 yen—one yen above Bain's earlier bid—only for Bain to respond by increasing its offer to 9,600 yen last week. The second-stage tender offer period was originally set to expire on Thursday.

On Thursday, Fuji Soft's shares ended at 9,810 yen, a rise of 0.4% for the day.