Dec 24 (Reuters) - MYOB Group Ltd (MYO) said on Monday it would...

Dec 24 (Reuters) - MYOB Group Ltd (MYO) said on Monday it would recommend U.S. private equity group KKR & Co's KKR.N buyout of the Australian accounting software maker.

Last week, KKR cut its A$1.8 billion buyout proposal for the Australian company. This came just seven weeks after KKR upped its indicative bid to access MYOB's financial records.

Under a scheme of arrangement, MYOB has agreed to "go shop" provisions with KKR, which allows MYOB to seek alternate superior proposals until Feb. 22, 2019.