05:18 AM EST, 12/20/2024 (MT Newswires) -- (Updates with Bain Capital's statement in the fifth and sixth paragraphs.)

KKR (KKR) said late Thursday that Japan's Fuji Soft is opposed to Bain Capital's latest buyout proposal.

KKR has extended its bid to buy the shares of Fuji Soft it does not already own and take the company private until Jan. 9 but maintained its price offer of 9,451 Japanese yen ($60.25) per share, despite Bain Capital's 9,600 yen per share offer.

According to KKR, Fuji Soft regards the Bain offer as a "hostile partial tender offer with the aim of seizing control of the company."

KKR also said Fuji Soft has decided that the Bain offer "carries the risk of deadlock among major shareholders with respect to special resolutions of shareholders and would not contribute to the improvement of corporate value."

Bain Capital and what it described as Fuji Soft's founding family said in a statement Friday that they have opted to bypass the board and appeal directly to shareholders.

"Bain Capital and the founding family have expressed significant concerns and distrust regarding several aspects of the process," said the statement. "Bain Capital and the founding family do not consider this move to be 'hostile.'"

Fuji Soft did not immediately reply to MT Newswires' request for comment.