ANZ has confirmed market speculation that it is looking to buy accounting software firm Myob from Kohlberg Kravis Roberts.
Myob is one of the country's leading providers of business management, financial and accounting services for SMEs. Market rumours suggest that the bank is contemplating a bid with a price tag of A$4.5 billion.
In a statement ANZ says: "ANZ and KKR are yet to reach agreement in relation to the acquisition and there is no certainty it will proceed.
"Should the transaction proceed it would be subject to regulatory approvals, including from the Australian Competition and Consumer Commission and the New Zealand Overseas Investments Office."