Australia and New Zealand Banking Group Limited (ASX:ANZ) is in talks with KKR & Co. Inc. (NYSE:KKR) backed MYOB Group Ltd. about an acquisition of the Australian accounting software business. ANZ and KKR “are yet to reach agreement in relation to the acquisition and there is no certainty it will proceed,” the bank said in a statement July 13, 2022.

That followed an earlier report from Bloomberg News that the parties were in advanced discussions for a deal that could value MYOB at more than AUD 4 billion ($2.7 billion). “MYOB is one of Australia's leading providers of business management, financial and accounting solutions for SMEs, Enterprise and Accounting Practice customers,” the Australian bank said in the statement. A representative for KKR declined to comment.