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EQT raises bid for Kakaku.com to 3,700 yen, matching Bain and LY

By Reuters News

TOKYO, Nov 11 (Reuters) - Swedish private equity firm EQT EQTAB.ST has raised its bid to buy Japan's Kakaku.com 2371.T 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 4689.T, although the latter consortium said it would pay 3,720 per share if it secures the support of Kakaku's third-largest shareholder KDDI 9433.T.

  • 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.

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