Bain Capital has further delayed its tender offer for Japan’s Fuji Soft, and is now targeting a launch in mid-to-late November as it awaits company approval for the deal, the firm announced on Monday, according to a report by Reuters.
This delay comes amid a heated $4bn acquisition battle with rival private equity giant KKR, underscoring Japan’s resurgence as a prime target for global takeovers.
Last week, KKR became Fuji Soft’s largest shareholder after completing the initial phase of its two-step buyout tender. While Bain’s proposal is approximately 7% higher than KKR’s, it hinges on receiving an affirmative response from Fuji Soft — a condition Bain has been negotiating since initially planning the offer launch in mid-October.
