Earlier last month, the board of MYOB said it intended to accept a takeover bid from private equity consortium Manhattan after it raised its offer by about $14 million.
The offer from Manhattan, a joint venture between private equity firm Archer Capital and US investment firm HarbourVest, valued MYOB at about $451 million.
Manhattan's previous offer of $1.1215 per share for full company control valued MYOB at about $437 million, but was rejected by the software company as opportunistic.
Under the two-tier offer, Manhattan offered MYOB shareholders $1.0564 per share.
Under the agreement, if Manhattan received acceptances reaching 90 per cent its offer will increase to $1.1564 per MYOB share, valuing the company at about $451 million.
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