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.

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Business , MYOB , Australia

   

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