Australia and New Zealand Banking Group (ANZ) is in talks to acquire MYOB Group, an accounting software business, as per sources, noting that the deal could be valued at over A$4bn ($2.7bn). While they have yet to reach an agreement and “there is no certainty it will proceed”, Bloomberg reported. It ws said that both parties were in advanced discussions for a deal. If the deal goes through, it could help ANZ gain access to a massive pool of small businesses in the country where MYOB has been a prevalent bookkeeping tool. ANZ said, “MYOB is one of Australia’s leading providers of business management, financial and accounting solutions for SMEs, Enterprise and Accounting Practice customers.”
ANZ’s 6.75% Perps callable in 2026 are trading flat at 98.375 to the dollar at a yield of 7.23%.
For the full story, click here