Bain Capital has this week lost out on a second European software deal in a year. While the first was careless, the second looks more like misfortune. But successive failed approaches can only raise the stakes the next time the US buyout firm attempts a deal in this sector.
On Monday, Swiss tech firm SoftwareOne Holding AG decided to stay independent after rejecting a bid proposal from Bain valuing its equity at 3 billion Swiss francs ($3.5 billion). Neither side comes out unblemished from a saga that’s created uncertainty around the stock since takeover interest emerged in June.