Orix Drops Out of Yayoi Race

Japan's Orix Corp. has dropped out of the race to buy private equity-backed software developer Yayoi, Reuters wrote Tuesday. Orix, along with Bain Capital and Advantage Partners, had advanced to the final round of bidding for Yayoi, in a deal worth about $800 million. MBK Partners is the seller. MBK acquired Yayoi in 2007 for 71 billion yen, or about 17 times EBITDA, Reuters reported.

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