MYOB Group (ASX:MYO) has agreed to a recommended scheme of arrangement with Kohlberg Kravis Roberts & Co. at $3.40 cash per share.
MYOB has also agreed to 'go shop' provisions with KKR.
Directors unanimously recommend shareholders vote in favour of the Scheme, in the absence of a Superior Proposal and subject to an independent expert concluding the transaction is in the best interests of shareholders.
The Company expects FY18 earnings to reflect revenue growth of approximately 7 per cent, R&D spend of approximately 19 per cent of revenue, an underlying EBITDA margin between 42 per cent and 43 per cent and free cash flow above $100 million.
Shares in MYOB Group (ASX:MYO) closed 1.03 per cent lower at $2.87 on Friday.