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 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 KKR has increased its tender-offer price for the Japanese software firm Fuji Soft, in an effort to conclude its acquisition battle with competitor Bain Capital. According to a regulatory filing on Tuesday,

TOKYO (Reuters) - U.S. private equity fund KKR will raise its tender offer price for Fuji Soft shares to 9,850 yen per share from 9,451 yen, above Bain Capital's rival offer of 9,600 yen, the Nikkei business daily reported on Tuesday.

U.S. private equity firm KKR will raise its offer price for Japanese IT company Fuji Soft by more than 4 per cent to take it above a rival offer from Bain Capital, it said on Tuesday.It is the latest salvo in a protracted bidding war that began in August last year,

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.