Photo credit: www.investing.com
Bain Capital Boosts Offer for Fuji Soft Amid Competitive Bidding War
TOKYO (Reuters) – In a competitive maneuver within the private equity landscape, U.S.-based Bain Capital is reportedly preparing to enhance its purchase offer for Japan’s Fuji Soft to 9,600 yen (approximately $63.35) per share. This revised bid surpasses the recently elevated tender offer from rival investment firm KKR.
The new offer represents a premium of 1.6% over KKR’s current bid of 9,451 yen per share, intensifying the ongoing contest between these two investment titans for the $4 billion software company.
This contest for Fuji Soft is illustrative of a broader trend as Japan emerges as a burgeoning center for mergers and acquisitions. The rising interest from private equity firms highlights the increasing appeal of Japanese companies in the global market.
According to data from LSEG, Japan experienced unprecedented inbound mergers and acquisitions activity, reaching a record total of $81 billion in just the first ten months of this year. This figure marks a staggering 17-fold increase compared to the same timeframe last year.
In response to the heightened competition, KKR raised its initial offer last month to 9,451 yen per share, up from its original proposal of 8,800 yen.
($1 = 151.5400 yen)
Source
www.investing.com