Rumours around ANZ Bank (ASX:ANZ) being in talks with Kohlberg Kravis Roberts & Co (KKR) about a potential acquisition of MYOB were confirmed today.
MYOB is a provider of business management, financial and accounting solutions for SMEs, enterprise and accounting practice customers.
The parties have yet to set anything in stone and have advised investors that there could be a chance that the deal won’t go ahead.
The transaction would be subject to regulatory approvals, including from the Australian Competition and Consumer Commission and the New Zealand Overseas Investments Office.
Shares in ANZ Bank (ASX:ANZ) are trading 0.4 per cent lower to $22.60.