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Australia's Myob Recommends Kkr's Lower Buyout Offer

by reuters.com posted 11months ago 64 views
* MYOB shares up 15 percent in a steady broader market (Adds shares, broker comment): (Reuters) - MYOB Group Ltd (MYO.AX) said on Monday it would recommend U.S. private equity giant KKR & Co’s (KKR.N) buyout offer for the Australian accounting software maker. Last week, KKR cut its A$1.8 billion buyout proposal for the struggling Australian company. This came seven weeks after KKR upped its indicative bid to access MYOB’s financial records. MYOB’s acceptance comes after it initially said on Thursday it would reject the new suggested price of A$3.40 per share, which was slashed from A$3.77.

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