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Saturday 17

November, 2018 1:01 AM



MYOB opens books after bidder raises offer

MYOB opens books after bidder raises offer

MYOB Group has opened its books to KKR after the US private equity firm interested in buying the accounting software provider lifted its offer.

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By AAP 02.11.2018 11:45 AM

MYOB Group has opened its books to KKR after the US private equity firm raised its proposed bid to $1.78 billion.

KKR, which last month offered an indicative $3.70 per share in cash for the 80.1 per cent of the accounting software provider it does not already own, has now lifted its proposed bid to $3.77.

MYOB says it will grant information access to KKR, subject to a confidentiality agreement, but that there is no certainty of a firm offer.

MYOB shares jumped 15 cents, or 4.5 per cent, to $3.51 by 1128 AEDT on Friday, and are now up about 17 per cent since KKR's approach was first revealed.

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