KKR asks Fuji Soft to file an injunction against Bain’s “breach of nondisclosure agreement.” From Reuters
TOKYO (Reuters) – U.S. private equity fund KKR said on Monday it had sent a letter to Fuji Soft asking it to file a court filing to challenge Bain Capital’s alleged breach of a non-disclosure agreement under the deal the takeover dispute between Bain and KKR to stop software manufacturers.
In the letter, KKR asked Fuji Soft to file a preliminary injunction to stop Bain Capital’s “continued violation of its nondisclosure agreement.”
KKR and Bain are trying to buy Fuji Soft in competing takeover bids worth up to $2 billion.
Fuji Soft’s board has supported KKR’s lower offer and demanded that Bain destroy the confidential information compiled as part of the due diligence.
Bain said this disregarded the interests of shareholders and that the company wanted to continue to use the information to launch its takeover bid. Fuji Soft’s founding family has said it supports Bain’s bid.
Fuji Soft and Bain did not immediately respond to Reuters’ request for comment.