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Bond Market News
ANZ in Talks for $2.7bn Acquisition of MYOB: Sources
July 13, 2022
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%.
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