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Listed Techs MYOB shareholders urged to reject Manhattan bid
Listed Techs MYOB shareholders urged to reject Manhattan bid | MYOB shareholders urged to reject Manhattan bid |
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| by Stephen Withers | |
| Thursday, 04 December 2008 | |
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Page 2 of 2 In recent news, MYOB's US operations were the subject of a management buyout, and the company announced it was withdrawing from the China market.Featured Whitepaper
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MYOB also announced that it would completely withdraw from mainland China "in the light of [presumably poor] progress to date", three years after opening its operations there. MYOB also confirmed today that it is in discussions with other parties about "possible alternative proposals that may result in a superior offer." Despite being challenged on this point by Manhattan, MYOB has not identified these possible suitors. The board says it is unlikely that a proposal will be announced before Manhattan's deadline, but continues to advise shareholders to reject the company's offer. MYOB shares closed up 0.055 cents at $1.02. |
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