KKR Raises Hitachi Kokusai Offer Following Pressure from Hedge Fund


KKR & Co LP (KKR.N) has raised its offer price for Hitachi Kokusai Electric Inc(6756.T) to 2,900 yen a share from 2,503 yen, the Japanese firm said on Wednesday, after a U.S. hedge fund put pressure on the private equity firm to revise terms.

A KKR representative in Tokyo declined to comment on the revised offer.

KKR agreed in April to buy the chip-making machinery and communications and video equipment business from Hitachi Ltd (6501.T). But the deal was put on hold in August when KKR said it would continue discussions with Hitachi Kokusai after a third-party committee reporting to the Japanese firm’s board said it did not support the terms.


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