Swedish private equity firm EQT has raised its bid to buy Japan’s Kakaku.com to 3,700 yen per share from 3,683 yen per share, a filing showed on Wednesday.
The bid equals a counteroffer from rival fund Bain and LY Corp although the latter consortium said it would pay 3,720 per share if it secures the support of Kakaku‘s third-largest shareholder KDDI.
EQT also extended the tender offer period to November 26 from November 12, the filing said.
This is the eighth time EQT has raised its bid and the 11th time it has extended its tender offer period in Japan’s most high-profile bidding war since KKR and Bain battled to take private software developer Fuji Soft in 2024 and early 2025.
EQT had offered 3,680 yen per share in September and raised its offer in 1-yen increments three times thereafter.
Japanese firms are subject to an increasing number of competitive bids in take-private deals and prices are rising as funds team up with non-financial firms on deals, like Bain and LY have done.
Reuters
