ANZ has confirmed it is in discussions with Kohlberg Kravis Roberts & Co. (KKR) regarding a potential acquisition of MYOB. This confirmation comes amid market speculation about the possible deal.
Currently, ANZ and KKR have not reached an agreement on the acquisition, and there is no certainty that the transaction will proceed. MYOB is recognized as one of Australia's leading providers of business management, financial, and accounting solutions for small to medium enterprises, enterprise customers, and accounting practices.
If the transaction moves forward, it would require regulatory approvals from bodies such as the Australian Competition and Consumer Commission and the New Zealand Overseas Investments Office.
ANZ has stated that it will make an announcement to the market if negotiations are successfully completed and an agreement is reached.