TOKYO (Reuters) -U.S. private equity firm Bain Capital is set to raise its offer price for Japan’s Fuji Soft to 9,600 yen ($63.35) per share, the Nikkei newspaper reported on Wednesday, trumping a recently increased tender offer bid from rival KKR.
The increased offer price, at a 1.6% premium to KKR’s 9,451 yen a share bid, would mark the latest salvo in the running battle between the two private equity giants over the $4 billion software maker.
The scramble for Fuji Soft has helped illustrate Japan’s growing prominence as a hotspot for deals, including rising demand from private equity firms.
In the first 10 months of this year, Japan saw a record $81 billion in inbound M&A, up 17-fold from the same period last year, LSEG data shows.
KKR increased its tender offer price to 9,451 yen per share last month, up from its original bid of 8,800 yen.
($1 = 151.5400 yen)