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AUSTRALIAN ACCOUNTING SOFTWARE CO MYOB IN TAKEOVER TALKS.

AsiaPulse News

| December 01, 2008 | COPYRIGHT 2008 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

SYDNEY, Dec 1 Asia Pulse - Accounting software company MYOB Ltd (ASX:MYO) says it is in discussions with "a range of parties" about possible takeover bids, as it urges shareholders to reject a takeover bid from Manhattan Software Bidco as undervaluing the company.

"Manhattan is seeking to take advantage of the unprecedented volatility in global markets by acquiring MYOB without paying fair value to shareholders," MYOB chairman Simon McKeon said.

"The offer represents an unusually skinny premium and is low relative to comparable trading multiples," he said.

MYOB says independent expert Lonergan Edwards has valued MYOB shares in the range of $1.16 to $1.29 per ...

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