Thursday, February 7, 2008

MYOB Rejects Private Equity Offer

MYOB appears to be the latest target of a private equity deal - something which has been rampant on the Australian stock market in recent times. MYOB has reportedly rejected the private equity approach. The deal is said to be worth $1.90 per share - a premium to the recent share price but a far cry from the heights attained during the heady days of the dot com boom.

From what I understand, MYOB's founder Craig Winkler owns a significant amount of the company - more than enough to block an unfriendly approach from a private equity player. Could it be that he is either willing to take MYOB private again in conjunction with a private equity partner, or would he sell out of the company completely?

For now, the MYOB board have rejected the offer as inadequate.

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