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ACCC extends review of the Myob Group Ltd and Reckon Limited tie-up

The Australian Competition and Consumer Commission (ACCC) and its New Zealand counterpart the NZCC have extended their review periods for the proposed $180 million acquisition of Reckon Limited (ASX: RKN) by Myob Group Ltd (ASX: MYO). Both decisions are expected to be finalised on 21 June 2018 according to an announcement issued by MYOB.

The ACCC has previously highlighted concerns that if the proposed acquisition were allowed to proceed, it could significantly reduce competition in the market place which would be to the detriment of consumers.

This wouldn’t be bad news for Myob shareholders though. A dominant market share with a product that is difficult to switch each year could significantly increase profitability.

My preferred accounting software pick however is still Xero Limited (ASX: XRO). I think the product is more user friendly and I think the company has better growth prospects. I’d also love a piece of these three revolutionary shares.

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Motley Fool contributor Kevin Gandiya has no position in any of the stocks mentioned.

You can follow Kevin on Twitter @KevinGandiya. The Motley Fool Australia owns shares of Xero. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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