Deals
KKR Offers to Buy Australia's MYOB in $1.6 Billion Deal
- Buyout firm’s A$3.70-a-share bid is 24% more than latest close
- KKR had earlier bought 18% stake in MYOB from Bain Capital
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KKR & Co. offered to buy MYOB Group Ltd. in a deal valuing the Australian business-management software company at A$2.2 billion ($1.6 billion). MYOB shares soared.
The U.S. buyout firm offered A$3.70 a share in cash for the rest of MYOB, 24 percent more than Friday’s closing price, the Australian company said in a statement on Monday. KKR had earlier bought about 18 percent of MYOB from Bain Capital for A$3.15 a share, according to the statement.