Aussie PE Firm Sues Sage Group Over Aborted MYOB Bid

Law360, New York (November 14, 2011, 3:30 PM EST) -- The Sage Group PLC, the U.K. accounting software giant, revealed Monday that its aborted bid for Australian software company MYOB Ltd. has sparked a $132 million legal claim from MYOB's former owner, buyout firm Archer Capital.

Sage's decision to pull out of the deal for MYOB — Australia and New Zealand's market leader in business accounting software — resulted in the company's sale to Boston-based Bain Capital LLC for a reported $1.3 billion. Though Sage would not confirm the details of its failed offer on Monday,...
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