U.S. private equity firm KKR has sweetened its offer for Japan's Fuji Soft by 4%, the latest salvo in its protracted and messy bidding war with Bain Capital for the $4 billion IT firm. The saga underscores an increasingly competitive dealmaking environment in Japan,

Private equity giant KKR (KKR) has upped its offer price for Japan-based IT company Fuji Soft in its ongoing complex takeover battle with U.S.

U.S. private equity firm KKR will raise its tender offer price for Japanese IT company Fuji Soft to 9,850 yen a share from 9,451 yen, above Bain Capital's rival offer of 9,600 yen, a person familiar with the deal said on Tuesday.

U.S. private equity firm KKR KKR-N -2.30% has sweetened its offer for Japan’s Fuji Soft by 4 per cent, the latest salvo in its protracted and messy bidding war with Bain Capital BCSF-N -0.06% for the $4-billion IT firm.

The U.S. investment company bought a more than one-third stake in Fuji Soft in November and has said it is best positioned to work with the company to take it private.

KKR & Co. raised its offer price for Fuji Soft Inc. to fend off a rival bid from Bain Capital, the latest chapter in a months-long battle for the Japanese software company.