Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
Subscribe to our newsletter SIGN UP
Offer for MYOB takeover reduced, expires tomorrow

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Offer for MYOB takeover reduced, expires tomorrow

US private equity giant KKR has revised its MYOB takeover offer price down after over two months of negotiations.

Technology Jotham Lian 20 December 2018
— 1 minute read

In an ASX release this morning, MYOB announced that KKR has revised the offer price to $3.40 per share, down from its initial $3.77 per share offer in November.

Advertisement
Advertisement

The revision comes after KKR completed its due diligence and finalisation of debt funding commitments.

The revised proposal is subject to the finalisation of a scheme implementation agreement and expires at 5pm, Friday, 21 December 2018

MYOB’s board has informed KKR that it is not in a position to recommend the revised proposal, however, the board remains in discussions with KKR regarding its proposal.

In October, MYOB received a takeover bid from KKR after Bain Capital sold the bulk of its shares to the private equity firm, giving KKR a 19.9 per cent stake in the accounting software firm.

MYOB agreed to grant information to KKR at the beginning of November following KKR’s increased offer price to $3.77 per share.

More to come.

This email address is being protected from spambots. You need JavaScript enabled to view it. 

Offer for MYOB takeover reduced, expires tomorrow
image intro
accountantsdaily logo
Technology
FROM THE WEB