Morningstar | Placing MYOB Under Review Following KKR's Revised Bid
We are placing narrow-moat-rated MYOB under review following KKR's revised bid for the accounting software firm. KKR, which already has a stake of nearly 20% in MYOB, offered AUD 3.77 per share in November 2018 to acquire the remainder of the company. Following due diligence, KKR dropped its offer price to AUD 3.40 per share. At this stage, management has declined to recommend the proposal. We think there is a now risk of the deal falling over completely. This view is shared by the market, demonstrated by the company's stock falling to pre-offer prices of less than AUD 3.00 per share.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.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.