07:40 AM EDT, 10/18/2024 (MT Newswires) -- KKR & Co. ( KKR ) rival in the takeover of Fuji Soft, Bain Capital, won support of the Japanese software developer's founder and major shareholder Hiroshi Nozawa, multiple news outlets reported Friday, citing Nozawa's letter to the company.

Bain made a binding offer last week to acquire Fuji Soft for 9,450 yen ($63.03) per share, valuing the company at $4 billion and outbidding KKR by about 7%, according to the reports.

This comes after Fuji Soft said in a Tuesday filing that it was not conducting any discussions with Bain Capital regarding its offer and that its board has recommended shareholders to accept KKR's tender offer of 8,800 yen per share.

In the Thursday letter, Nozawa urged Fuji Soft to withdraw its recommendation to accept KKR's offer as Bain's offer was superior, the media outlets said.

"It is obvious that Bain Capital's purchase price, which is higher than KKR's purchase price, is in the common interest of shareholders," Nozawa said in the letter, according to Reuters.

KKR and Bain Capital did not immediately respond to MT Newswires' request for comment on the matter, while Fuji Soft could not immediately be reached.

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