KKR: denounces Bain Capital's hostile takeover bid for Fuji Soft

(CercleFinance.com) - KKR announces that it has asked Fuji Soft's Board of Directors to file an injunction against Bain Capital for unauthorized use of confidential information and breach of a confidentiality agreement (NDA).


As a reminder, KKR is Fuji Soft's main shareholder with a 34% stake.

KKR accuses Bain Capital of behavior contrary to the fundamental principles of the private equity industry in Japan, including the disclosure of misleading information and the launch of a hostile takeover bid in breach of the original agreements.

According to KKR, Bain Capital acquired confidential information to prepare its takeover bid under the false pretext that it would only make a 'friendly' offer. However, after obtaining this information, Bain announced its intention to make a hostile bid and, in breach of the terms of the confidentiality agreement under which Bain had obtained the information, refused Fuji Soft's request to destroy it.

We expect prompt follow-up action from Fuji Soft to prevent Bain Capital from continuing to hold, use or potentially disclose this confidential information in breach of the NDA', KKR emphasizes.

The company adds that it intends to take 'all necessary steps to protect Fuji Soft's confidential information from unlawful use, and reserves the right to pursue legal remedies as a shareholder of FUJI SOFT'.

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