News: MYO MYOB says not in a position to recommend KKR's revised down offer

Dec 20 (Reuters) - Australia's MYOB Group (MYO) on Thursday said it was not in a position to recommend the downwardly revised offer by KKR & Co KKR.N after the U.S. buyout giant lowered its bid to take full control of the accounting software firm.

KKR, following completion of due diligence and finalisation of debt funding commitments, revised its offer price to A$3.40 per share down from the previous $3.77 per share.

MYOB last month said it would grant due diligence after KKR sweetened its offer by 2 percent.