Bain May Not Launch Tender Offer for Fuji Soft

Jiji Press

15:40 JST, February 11, 2025

Tokyo, Feb. 11 (Jiji Press)—U.S. investment fund Bain Capital may not launch a tender offer for Japanese system developer Fuji Soft Inc., it has been learned.

In a statement released Monday, Bain said that it is “carefully considering” its future policy, including “the option of withdrawing” its tender offer plan.

Rival U.S. fund KKR is also seeking to acquire Fuji Soft, having already launched a tender offer for the company, which is listed on the Tokyo Stock Exchange’s top-tier Prime section.

Bain had announced a plan to commence its tender offer for Fuji Soft shares by early February at ¥9,600 apiece, higher than KKR’s previous offered price of ¥9,451.

According to the statement, Bain was preparing to start its tender offer on Wednesday last week. After KKR said the preceding day that it would raise its bid price to ¥9,850 , Bain decided not to launch its tender offer on the planned date.

Bain’s tender offer is “not expected to be completed successfully” without a hike in its share acquisition price, the statement explained.

Bain said it is considering the best proposal for Fuji Soft and its shareholders.