KKR More Likely to Acquire MYOB Following Increased Offer and Due Diligence Approval
Following KKR’s initial AUD 3.70 takeover bid for MYOB last month, we raised the possibility of an alternative bid for the company and advised investors to wait and see how the situation progresses. However, MYOB has now granted due diligence access to KKR and in return, KKR has raised its offer price to AUD 3.77. We expect these actions reflect extensive negotiations between the two parties over the past month and that it’s now unlikely that a rival bid will emerge. In addition, the small incre...MYOB Group is engaged in development and publishing of software and the provision of services for small and medium enterprises, including accountants in public practice. Co.'s operating segments comprise of SME Solutions, which provides business management software and services to small and medium enterprises; Practice Solutions, which provides business software and services to accounting professionals in practice; and Enterprise Solutions, which provides enterprise resource planning and human resource management software and services to medium and large enterprises.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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