Australia’s MYOB recommends KKR’s marked-down US$1bil buyout offer


SYDNEY: Australian accounting software maker MYOB Group Ltd said it would back a marked-down A$1.6bil buyout offer from private-equity giant KKR & Co in a bid to navigate a broader market turmoil, sending its shares higher.

The decision marks a swift change of heart for the Sydney-listed mainstay of Australian small businesses that just four days earlier suggested it could not go ahead with the US firm’s lower bid.

Subscribe now and receive FREE sooka plan for 1 month.
T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Business , MYOB , Australia

   

Next In Business News

Curb appeal can enhance a home’s value
Beware of rental scams!
Divorce 101: How property is divided
Cautious tone expected for ringgit versus US dollar trading next week
U Mobile to reduce foreign majority shareholdings to 20%
MACC investigating Khazanah, PNB's unsuccessful investment
Another data centre job for Gamuda
SOBA judges, past winners share winning tips
Government and venture capital
Low volatility a remedy for the extremes?

Others Also Read