KKR Increases Offer for Fuji Soft

TOKYO (Reuters) – Private equity firm KKR has raised its tender offer price for Fuji Soft by 7% to 9,451 yen ($60.86) a share, according to the Japanese software developer on Friday. This price slightly surpasses a competing offer of 9,450 yen from Bain Capital.

KKR has already acquired a 35% stake in Fuji Soft following the first part of its two-stage buyout, where it initially offered 8,800 yen per share.

Although KKR had intended to maintain the same price for the second part of the buyout, scheduled for next week, the revised offer aims to secure the deal.

Fuji Soft's board expressed support for KKR's updated proposal during a meeting on Friday and will oppose Bain Capital's offer.

Shares of Fuji Soft experienced a 0.6% increase, closing at 9,110 yen ahead of the announcement.

($1 = 155.2900 yen)