<article>U.S. buyout fund <a href="https://www.dealstreetasia.com/tag/kkr-co-lp/">KKR &amp; Co LP</a> has raised its offer price for Japan&#8217;s <a href="https://www.dealstreetasia.com/tag/hitachi-kokusai-electric-inc/">Hitachi Kokusai Electric Inc</a> to 3,132 yen a share from 2,900 yen, its second increase, according to a statement issued by Hitachi Kokusai on Friday.
KKR also extended the deadline for the tender offer &#8211; originally Friday &#8211; to Dec. 8.</article>

U.S. buyout fund <a href="https://www.dealstreetasia.com/tag/kkr-co-lp/">KKR &amp; Co LP</a> has raised its offer price for Japan&#8217;s <a href="https://www.dealstreetasia.com/tag/hitachi-kokusai-electric-inc/">Hitachi Kokusai Electric Inc</a> to 3,132 yen a share from 2,900 yen, its second increase, according to a statement issued by Hitachi Kokusai on Friday.
KKR also extended the deadline for the tender offer &#8211; originally Friday &#8211; to Dec. 8.
KKR&#8217;s 2,900 yen per-share bid to buy the chip-making machinery and communications and video equipment business of Hitachi Ltd was launched in October after its original proposal was put on hold.
KKR had agreed to buy Hitachi Kokusai in April <a href="https://www.dealstreetasia.com/stories/kkr-to-buy-hitachi-unit-valued-at-2-3-billion-71266/">in a deal valuing the company at 257 billion yen ($2.3 billion)</a> or 2,503 yen per share. The plan was shelved in August after a third-party committee said the terms of the deal could be disadvantageous to minority shareholders.
Shares in Hitachi Kokusai have been trading above the earlier offer price, an indication that investors are putting pressure on KKR to sweeten its bid further.
Hitachi Kokusai shares were up 1.37 percent at 3,335 yen at 0420 GMT.
KKR had already improved its offer price in October after U.S. hedge fund Elliott Management Corp disclosed its ownership in Hitachi Kokusai.
Elliott, known for buying stakes in firms in the middle of takeovers or acquisitions and seeking better deals for shareholders, <a href="https://www.dealstreetasia.com/stories/elliott-ups-stake-japans-hitachi-kokusai-kkr-raises-offer-price-84056/">boosted its stake in Hitachi Kokusai to 8.59 percent</a> last month.
Also Read:
<a href="https://www.dealstreetasia.com/stories/kkr-to-buy-hitachi-unit-valued-at-2-3-billion-71266/">KKR to buy Hitachi unit valued at $2.3b</a>
<a class="tinymce-colortext" style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/elliott-stake-japans-hitachi-kokusai-complicates-stalled-kkr-bid-82112/">HK: Elliott stake in Japan’s Hitachi Kokusai complicates stalled KKR bid</a>
<a href="https://www.dealstreetasia.com/stories/elliott-ups-stake-japans-hitachi-kokusai-kkr-raises-offer-price-84056/">Elliott again ups stake in Japan’s Hitachi Kokusai after KKR raises offer price </a>
Reuters

KKR raises bid price for Japan's Hitachi Kokusai for the second time

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

KKR raises bid price for Japan's Hitachi Kokusai for the second time

Create an account to continue reading this premium story for free

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief