FILE PHOTO: Logo of Bain Capital is screened at a news conference in Tokyo, Japan September 28, 2017. REUTERS/Kim Kyung-Hoon/File PhotoBain Capital now expects to launch its tender offer for Japan's Fuji Soft in mid-to-late November as it continues to await company approval, the private equity firm announced on Monday, amid a buyout competition with rival giant KKR.
The private equity firms are engaged in a $4 billion acquisition battle for the software company, a deal that highlights Japan's revival as a target for global takeovers. KKR, meanwhile, became the largest shareholder in Fuji Soft last week, after completing the first part of its two-stage buyout tender offer, even as Bain's proposal outbids it by about 7 per cent.
Bain had first planned to launch its offer in mid-October as it continues discussions in order to secure the affirmative opinion from the Japanese company that it has set as a condition for the launch. We know it's a hassle to switch browsers but we want your experience with CNA to be fast, secure and the best it can possibly be.