KKR Sweeters provides Foxis soft SOFT, with the bidding war with Bain again.

Anton Bridge

Tokyo (Reuters) -US private equity company KKR has increased its quotation of Japan's Movies of Japan by 4 %, which is the latest and messy bidding battle with Bain Capital in Bain Capital. ), This $ 4 billion IT company.

The legend emphasizes the increasingly fierce trading environment in Japan, because global investment companies are targeted at corporate governance with insufficient or invalid assets of Japanese companies.

KKR increased its offer price from 9,451 yen per share to 9,850 yen ($ 63.44), which was higher than Bain's latest quotation per share in December.

Even after FUJI Soft rejected his bid, Bain persistently-a rare step in Japan, the reason is to respond to Fuji Soft's reaction “strong attention and distrust”. And believe that the interests of a few shareholders have been rejected.

Fuji Soft's stock ended nearly 2 % of the transactions on Tuesday to reach 9,990 yen, which shows that investors bet Bain will not go away, but will return another offer.

“The Travis Lundy of Quiddity Advisors said:” This competition is good for markets and minority investors. If Bain is not there, in the past month, the market will not trade about 9,800 yen. “

After the first stage of the two parts of the bidding, KKR currently has 33.97 % of Fuji Software Stocks, two of which (3D investment partners and Faran Capital) agreed to fulfill their shares to KKR.

As a result, the board of directors of Fuji rejected Bain's proposal, saying that having two major shareholders would hinder management's decision -making ability. It also said that Bain's bid will take three months to draw conclusions.

Nevertheless, because Bain's offer is higher, KKR has not ensured most seats so far, which has also helped increase the stock price of Fuji Soss.

KKR repeatedly extended its bidding period, and the latest will end on February 19.

Bain, the founding family supported by Fuji Soft, has not yet proposed a bidding offer. It said before that it will wait for KKR's bid to fail or withdraw.

Bain did not immediately comment on KKR's higher bids. Fuji Soft refused to comment.

KKR initially provided 8,800 yen shares for Fuji Software in August. Bain (Bain) announced the bid at a price of 9,450 yen per share in October, prompting KKR to raise its offer to 9,451 yen per share. Although Bain subsequently raised its offer to 9, 600 yen, it kept this level.

($ 1 = 155.2800 yen)

(Report of Anton Bridge, other reports of Kantaro Komiya and Kane Wu; editors of Chang-RAN KIM and Kate Mayberry)