Fuji Soft founder backs buyout by Bain, Nikkei says

TOKYO :Fuji Soft < founder and shareholder Hiroshi Nozawa has sent a letter to the company expressing his support for a takeover by U.S. buyout fund Bain Capital, the Nikkei business daily said on Thursday.
Nozawa urged Fuji Soft to withdraw its recommendation for a buyout by KKR, the report said.
Earlier this month, Bain made a binding offer to buy Fuji Soft for 9,450 yen a share, valuing the Japanese software developer at $4 billion and outbidding rival KKR by about 7 per cent.
Nozawa said Bain’s proposal “clearly serves the common interests of shareholders”, the Nikkei reported.