MYOB Group Limited - proposed acquisition of Reckon Limited's Accountants Group

Status: 
Completed
Outcome: 
Withdrawn on 31 May 2018
Reference number: 
63187
Industry: 
Financial and business management systems
Commenced: 
12 January 2018
Total review days: 
70 days

Acquirer(s)

  • MYOB Group Limited

Target(s)

  • Reckon Limited's Accountants Group

Statement of issues

Document title Date
Statement of Issues ( PDF 350.18 KB )

Timeline

DateEvent
12/01/2018ACCC commenced review under the Merger Process Guidelines.
14/02/2018Closing date for submissions from interested parties.
07/03/2018Former provisional date for announcement of findings (22 March) delayed to allow MYOB more time to provide additional information.
16/03/2018ACCC received further information from MYOB.
29/03/2018ACCC published a Statement of Issues outlining preliminary competition concerns.
09/04/2018On or around 9 April, the ACCC requested further information from certain industry participants, MYOB and Reckon.
13/04/2018Closing date for submissions relating to Statement of Issues.
19/04/2018ACCC is waiting on information requested on or around 9 April. Former proposed date for announcement of findings (30th May) is delayed.
09/05/2018ACCC received the majority of information requested on or around 9 April.
31/05/2018ACCC has discontinued this review after MYOB announced that the acquisition will not proceed.