financetom
Business
financetom
/
Business
/
Bain makes binding offer for Fuji Soft, 7% higher than rival KKR
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Bain makes binding offer for Fuji Soft, 7% higher than rival KKR
Oct 11, 2024 9:56 PM

TOKYO (Reuters) - U.S. buyout fund Bain Capital made a binding offer to buy Fuji Soft for 9,450 yen a share in a deal that values the Japanese software developer at $4 billion and outbids rival KKR by about 7%.

Bain said in a statement on Friday it planned to launch the offer towards the end of October provided it can get Fuji Soft's backing.

Bain and KKR have been engaged in a rare showdown to take over Fuji Soft, which has been at odds with some of its major shareholders.

KKR last month brought forward the start of its tender offer by about a week at the unchanged price of 8,800 yen, and said it would conduct the tender offer in two stages.

Fuji Soft has since said its board had decided to recommend shareholders to tender shares to KKR's first tender offer.

Shares in Fuji Soft closed at 9,000 yen on Friday.

($1 = 149.1200 yen)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Ventas, Kindred Agree to Improve Patient Care, Strengthen Lease
Ventas, Kindred Agree to Improve Patient Care, Strengthen Lease
Sep 16, 2024
11:41 AM EDT, 09/16/2024 (MT Newswires) -- Ventas ( VTR ) said Monday it entered into agreements with Kindred Healthcare and its parent company ScionHealth to improve the facility environment for patient care. Under the agreements, the initial annualized contractual base rent for long-term acute care hospitals will be $80 million starting May 1, 2025, with annual escalation by 2.8%...
Murdoch succession drama plays out in closed court in Reno, Nevada
Murdoch succession drama plays out in closed court in Reno, Nevada
Sep 16, 2024
LOS ANGELES, Sept 16 (Reuters) - A battle over control of Rupert Murdoch's global television and publishing empire begins Monday in a Reno, Nevada courtroom, where a judge will consider the contentious matter of succession. Murdoch, 93, is attempting to change the terms of the family's trust -- which holds significant stakes in Fox News parent Fox and Wall Street...
Jabil Faces Prolonged Pressures From End-Market Softness, UBS Says
Jabil Faces Prolonged Pressures From End-Market Softness, UBS Says
Sep 16, 2024
11:44 AM EDT, 09/16/2024 (MT Newswires) -- Jabil's ( JBL ) key end markets including the electric vehicles and renewable energy industries are facing persistent headwinds that cloud prospects for a robust recovery for the electronics components maker, UBS said in a report Monday. The investment firm lowered its fiscal 2025 and 2026 earnings and revenue estimates for the company,...
Yelp Faces Declining Usage, Competitive Pressure, BofA Says With Underperform Rating
Yelp Faces Declining Usage, Competitive Pressure, BofA Says With Underperform Rating
Sep 16, 2024
11:40 AM EDT, 09/16/2024 (MT Newswires) -- Yelp (YELP) faces declining usage and increasing competitive pressure in the restaurant and retail business, BofA Securities said Monday in a report initiating coverage of the company with an underperform rating. We estimate Yelp revenue to grow at mid-single digits and believe the company will continue to lose market share to other online...
Copyright 2023-2026 - www.financetom.com All Rights Reserved