A consortium led by private equity firm Archer Capital has made a hostile takeover bid for Australian financial software giant MYOB.
A consortium led by private equity firm Archer Capital has made a hostile takeover bid for Australian financial software giant MYOB.
Manhattan Software Bidco, which is made up of a group of companies managed by Archer Capital, and alternative investment firm HarbourVest Partners, has offered $1.15 cash per share for MYOB, which will increase to $1.25 a share if Manhattan gets enough MYOB shares and debt financing conditions are satisfied or waived.
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