Australian software firm MYOB's key shareholder caves in to KKR offer

Australian software firm MYOB's key shareholder caves in to KKR offer

MYOB CEO Tim Reed. Photo: MYOB's Facebook page

Australian accounting software maker MYOB Group Ltd on Wednesday said its second-biggest shareholder has agreed, with reservations, to vote in favour of U.S. private-equity firm KKR & Co Inc‘s A$1.6 billion ($1.14 billion) takeover bid.

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