KKR $KKR (+1,36 %) recently completed the first step in its takeover of Japanese software developer Fuji Soft, acquiring 35% of the company's shares. The acquisition was made via a two-stage takeover bid in which KKR received the support of Fuji Soft's executives and major shareholders. The offer amounts to 8,800 yen per share, which corresponds to a premium of 110% to the average trading price of the past year.
KKR plans to acquire the remaining shares in the second phase and take Fuji Soft fully private. This move is part of a broader strategy to strengthen the company's position in the Japanese technology services market and capitalize on its real estate holdings by disposing of idle assets.
Today, KKR increased its offer by a further 7 percent to 9,451 yen, equivalent to approximately $60.86.
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