MYOB's keeps its KKR bird in hand as it searches for a higher offer

Sun, 23 Dec 2018

By Jenny Ruth Dec. 24 (BusinessDesk) - MYOB directors appear to be backing themselves to come up with a better offer while keeping the KKR takeover offer as a backstop. After completing due diligence, global predator KKR lowered its offer price from A$3.77 to A$3.40 per share, reducing its valuation of the ASX-listed MYOB, which competes against New Zealand-based, ASX-listed cloud accounting services provider Xero, by A$220 million to A$2 billion. Just days after saying “it is not in a position to recommend” KKR’s lower offer, the acco...

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