Feb. 17 at 5:01 PM
$BCSF $KKR Bain Capital withdraws from battle with KKR for Fuji Soft
The company wrote, "An investment fund that receives investment advice from Bain Capital Private Equity (BCSF) and its corporate group has continuously made sincere proposals that it believe will lead to an enhancement of the corporate value of FUJI SOFT, following the due diligence of the Target Company implemented by K.K. BCJ-88, all of whose voting rights are indirectly owned by Bain Capital, with a view to commencing the Tender Offer for the common shares and stock acquisition rights of the Target Company by the Tender Offeror. As stated in the "Notice of the Progress Toward the Commencement of Tender Offer for the Shares of FUJI SOFT INCORPORATED" dated February 10, 2025, having completed the determination of the tender offer agent for the Tender Offer and the securing of funds for the Tender Offer, the Tender Offeror had been preparing disclosure documents, etc. in order to commence the Tender Offer on February 5, 2025.
However, on February 4, 2025, the Tender Offeror became aware, through the Amendment Statement to the Tender Offer Registration Statement for the Second FK Tender Offer submitted by FK Co./ on the same date, that the price of purchase, etc. of the Target Company Shares in the Second FK Tender Offer had been raised to 9,850 yen. Since then, Bain Capital, after consulting with Mr. Hiroshi Nozawa, the founder of the Target Company, has deliberated their subsequent policy by carefully considering the interests of the Target Company and the Target Company's shareholders, and has concluded that it will not increase the price of the purchase, etc. of the Target Company's shares in the Tender Offer and will not implement the Tender Offer. " This decision to give up the pursuit of Fuji Soft ends a months-long bidding war between Bain Capital and KKR (KKR).
