07:15 AM EDT, 10/22/2024 (MT Newswires) -- Fuji Soft's top shareholder, 3D Investment Partners, has confirmed its support for KKR's (KKR) bid for the Japanese software developer in a $4 billion takeover battle against Bain Capital, Reuters reported Tuesday.

"As Fuji Soft reaffirmed its support for KKR's tender offer, we believe KKR is the best partner for the company," Singapore-based 3D Investment Partners told Reuters.

Bain Capital has countered KKR's tender offer of 8,800 yen ($58.67) per share this month with a bid of 9,450 yen per share.

KKR has secured commitments from 3D and another major shareholder, Farallon Capital, which hold stakes of 23.46% and 9.22%, respectively, potentially giving KKR control of nearly one-third of Fuji Soft and the ability to block Bain's offer, according to Reuters.

KKR and 3D Investment Partners have not immediately responded to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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