28th Aug 2015 06:52
LONDON (Alliance News) - The Sage Group PLC said that a claim for damages made by former shareholders of software firm MYOB Group Ltd, in relation to Sage pulling out of a deal to buy MYOB from Australian private equity firm Archer Capital in 2011, has been dismissed on all counts.
FTSE 100-listed software company Sage said it will now be taking steps to recover the costs it incurred during the legal proceedings.
Sage ended talks to acquire MYOB in 2011 after it could not agree a price, and MYOB was then sold to Bain Capital for around USD1.3 billion.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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