Discussions are underway, bank confirms
ANZ has entered discussions with American global investment company Kohlberg Kravis Roberts & Co about a potential acquisition of MYOB, the bank confirms.
Agreement between ANZ and Kohlberg Kravis Roberts & Co, which owns MYOB has not been reached, and there is no certainty the acquisition will proceed, ANZ said.
MYOB is one of Australia’s leading providers of business management, financial and accounting solutions for SMEs, enterprise and accounting practice customers.
If the acquisition were to proceed, it would be subject to regulatory approvals, including from the Australian Competition and Consumer Commission and the New Zealand Overseas Investments Office, ANZ said.
If negotiations are successfully completed and the parties enter into an agreement, ANZ said an announcement about the acquisition would be made to markets.
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