financetom
Technology
financetom
/
Technology
/
KKR asks Fuji Soft to file injunction against Bain's 'breach of NDA'
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
KKR asks Fuji Soft to file injunction against Bain's 'breach of NDA'
Jan 6, 2025 8:04 PM

TOKYO, Jan 7 (Reuters) - U.S. private equity fund KKR

said it has asked Fuji Soft to file for an

injuction in court to stop what it said was Bain Capital's

violation of a non-disclosure agreement (NDA) amid Bain and

KKR's acquisition battle for the software maker.

In a letter to Fuji Soft on Monday, KKR asked the Japanese

company to file an injunction to halt Bain Capital's "continued

breach of its non-disclosure agreement".

Bain on Tuesday said it has destroyed the confidential

information it had gathered as part of its due diligence process

but would continue with its tender offer.

Earlier in the day, Fuji Soft said it would consider the

appropriate response to KKR's injuction request.

KKR and Bain are trying to buy Fuji Soft in competing tender

offer bids worth as much as $2 billion.

The request by KKR ramps up the acrimony between two of the

biggest names in global private equity in their tug-of-war for

Fuji Soft.

It is rare for such a battle to unfold publicly in Japan - a

market where hostile bids have only become more common in recent

years and where most takeovers are still done on a friendly

basis.

New takeover guidelines introduced by the industry ministry

to spur corporate takeovers have begun to remove the long-held

stigma around unsolicited bids and encouraged lenders to finance

such proposals.

Fuji Soft's board has come out in support of KKR's lower bid

and demanded that Bain destroy the confidential information it

compiled during due diligence, but Bain proceeded with its bid,

now hostile, saying there was no reason for its higher offer to

be rejected.

Bain has said Fuji Soft is disregarding the interests of

shareholders and that it wanted to continue using the

information to launch its tender offer. Fuji Soft's founding

family has said it supports Bain's bid.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
US importers, whip-sawed by tariff uncertainty, move to sidelines
US importers, whip-sawed by tariff uncertainty, move to sidelines
Apr 9, 2025
April 9 (Reuters) - So many U.S. companies rushed in goods to avoid President Donald Trump's many threatened tariffs that imports soared to near-record levels in recent weeks. Now, retailers and other importers are hitting the brakes, awaiting clarity on where the new duties will land. U.S. import bookings on massive container ships dropped 64% from the period of March...
Agilysys Stock: A Deep Dive Into Analyst Perspectives (5 Ratings)
Agilysys Stock: A Deep Dive Into Analyst Perspectives (5 Ratings)
Apr 9, 2025
In the latest quarter, 5 analysts provided ratings for Agilysys ( AGYS ) , showcasing a mix of bullish and bearish perspectives. The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 3 2...
Deep Dive Into Couchbase Stock: Analyst Perspectives (10 Ratings)
Deep Dive Into Couchbase Stock: Analyst Perspectives (10 Ratings)
Apr 9, 2025
Throughout the last three months, 10 analysts have evaluated Couchbase ( BASE ) , offering a diverse set of opinions from bullish to bearish. The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 3 4...
What's Going On With Software Developer Globant's Stock?
What's Going On With Software Developer Globant's Stock?
Apr 9, 2025
Software developing company Globant Inc. stocks are trading higher today after the company formed a strategic alliance with Google Cloud to drive digital innovation across multiple core industries. This collaboration centers on deploying AI-driven, industry-tailored solutions designed to tackle ongoing operational hurdles that today's businesses encounter. The partnership allows Globant ( GLOB ) to embed Google Cloud's AI capabilities into...
Copyright 2023-2026 - www.financetom.com All Rights Reserved