icon
icon
icon
icon
Upgrade
icon

KKR (KKR.US) completes first stage acquisition target, successfully holding 35% of Fuji Software

AInvestWednesday, Nov 6, 2024 2:20 am ET
1min read

KKR & Co. (KKR.US) successfully acquired a 35% stake in Fuji Software, a Japanese software developer, as part of its two-stage takeover offer, which was officially announced by Fuji Software on Wednesday. The move, which comes despite a higher private placement offer from rival Bain Capital in October, gives KKR enough shares to block Bain's bid, according to people familiar with the matter. Specifically, investors 3D Investment Partners and Farallon Capital, which together hold 32.7% of Fuji Software, have agreed to sell their stakes to KKR at 8,800 yen per share. Bain, which is interested in making a 9,450 yen per share offer, needs the approval of Fuji Software's management to proceed, which has not yet been granted. As a result, KKR's early move puts it in a strong position.

Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.