KKR & Co. has secured enough shares of Fuji Soft Inc. in a tender offer to take the company private, formally ending a months-long bidding war against Bain Capital.

Completion of the two-stage offer will give KKR a 57.92% stake in the Japanese software company, the New York-based firm said in a statement on Thursday. It aims to acquire the remaining shares through a squeeze-out process at an extraordinary shareholder meeting scheduled for late April.

Bain Capital said earlier this week that it decided not to increase its offer price and proceed with a previously announced hostile bid for Yokohama-based Fuji Soft. The two investment firms had both raised their offers multiple times in recent months. KKR’s most recent bid at ¥9,850 per share, announced in early February, values Fuji Soft at around $4.4 billion.

It had initially announced a tender offer in August, only for Bain’s subsequent overtures to put the transaction in limbo. KKR had already built a stake in Fuji Soft through the first stage, allowing it to block any rival takeovers.

Source: FINANCEYAHOO

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