ANZ confirms MYOB acquisition talks

ANZ banking group has confirmed that it is in discussions to acquire major accounting software company, MYOB.

ANZ has issued a statement to the Australian Securities Exchange (ASX) in which it confirmed media reports that it was in discussions with private equity player, Kohlberg Kravis Roberts (KKR) about the potential acquisition.

ANZ referred to MYOB as being one of Australia’s leading providers of business management, financial and accounting solutions for small to medium enterprise and accounting practice customers.

It said that should the transaction proceed it would be subject to regulatory approvals, including from the Australian Competition and Consumer Commission and the New Overseas Investments Office.

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