(Bloomberg) -- KKR & Co. has secured more than one-third of Fuji Soft Inc. after the private equity firm completed the first stage of its tender offer, according to people familiar with the matter.
3D Investment Partners and Farallon Capital have tendered their shares to KKR following an earlier agreement, said the people, who asked not to be identified as the information is private. Together with stock tendered by other minority shareholders, KKR is set to hold more than one-third of Fuji Soft shares, paving way for its plans to take control of the company, the people said.
A representative for KKR declined to comment, while Fuji Soft representative couldn’t be reached for comment outside business hours in Japan.
Fuji Soft has attracted takeover interest from both KKR and rival private equity firm Bain Capital. The Yokohama-based company had earlier said it agreed to a buyout by KKR, even though it had received a higher proposal from Bain, because it judged KKR’s offer was certain to occur. KKR, which is offering ¥8,800 ($57.8) for each Fuji Soft share, extended the first stage of the tender offer to Tuesday.
The software company has been fielding demands from Singapore-based 3D Investment Partners to consider steps such as taking the company private.
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