(Bloomberg) -- KKR & Co. has decided to acquire Fuji Soft Inc. through a takeover bid and take the software developer private, people familiar with the matter said.
The Japanese company’s market value was almost ¥500 billion ($3.4 billion) on Wednesday, and the deal may cost about ¥600 billion if it goes through, said the people, who asked not to be identified as the matter is private.
The offer price is about ¥9,000 apiece, the Nikkei newspaper reported earlier. That’s a more than 20% premium to its Wednesday close of ¥7,390.
A spokesperson for Fuji Soft declined to comment. KKR representatives didn’t immediately comment.
Singapore-based activist 3D Investment Partners has pushed Fuji Soft to boost its shareholder value with steps such as taking the company private. The firm is Fuji Soft’s largest shareholder with a 21.45% stake, according to Bloomberg-compiled data.
Fuji Soft had earlier received proposals to go private from several funds. KKR has offered the highest bid, the people said.
Fuji Soft made its four listed units wholly owned subsidiaries through takeover bids in August last year, as part of its efforts to enhance corporate value.
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