Sage leads bidding for Mind Your Own Business
Geordie move into Antipodes looking good
Posted in Business, 18th August 2011 11:01 GMT
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Sage has been declared preferred bidder for Aussie small biz and accounts firm MYOB.
The Geordie firm is bidding A$1.3bn (£823m), which tops offers from Bain Capital and Kohlberg, Kravis Roberts and Co.
The two private equity/asset stripper firms were stymied by the downturn in debt markets in recent weeks.
The offer is a generous valuation of MYOB and would be Sage's biggest ever buy.
Sage said yesterday it was in the bidding: company spokespersons were unavailable at the time of writing. ®
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