Bain Capital claims it will certainly release tender deal for Fuji Soft without Fuji board authorization

TOKYO (Reuters) – Bain Capital intends to release a tender deal for Fuji Soft shares also without the authorization of the target company’s board of supervisors, the united state exclusive equity company claimed on Wednesday.

The statement came a day after the Japanese IT strong declared its assistance for the 2nd phase of a tender deal acquistion from competing KKR, rejecting a greater deal from Bain.

Bain has claimed it would certainly start its tender deal just with the authorization of Fuji Soft’s board. But it currently intends to “promptly launch our tender offer if (KKR’s) second round of the tender offer ends unsuccessful or will be withdrawn,” Bain claimed in its discussion documents.

Bain likewise claimed it has “strong concerns and distrust” in Fuji Soft’s feedback to its proposition.

(Reporting by Mariko Katsumura; Editing by Chris Reese)