News: NAB UPDATE 1-Australia's Westpac taps JP Morgan for Tyro Payments takeover - report

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Oct 17 (Reuters) - Australian lender Westpac Banking Corp (WBC) has roped in investment bankers from U.S. banking giant JP Morgan to advise it on a bid to buy payment terminals firm Tyro Payments Ltd (TYR) , the Australian Financial Review reported on Monday.

The report said Westpac was "one of a handful" of banks mulling a buyout offer and working on the potential benefits of assimilating Tyro into their wider banking operations.

Australia's top two lenders, Commonwealth Bank of Australia (CBA) and National Australia Bank (NAB) , have also been understood to have considered a play for the payments platform firm, but have not tapped in a counsel yet, the report said without naming any sources.

The news comes more than a month after Sydney-based Tyro rejected a A$1.27-per-share buyout offer from a consortium led by private equity firm Potentia Capital, calling it "highly opportunistic".

Tyro shares closed 8.7% higher at A$1.56, but have lost nearly half of their value so far this year. As of Monday's close, Tyro had a market value of A$807.6 million ($503.78 million).

Both Westpac and Tyro did not immediately respond to Reuters requests for comment. JP Morgan's Australia office also did not respond right away. ($1 = 1.6031 Australian dollars) (([email protected]; Twitter: https://twitter.com/sameer_manekar))