In my view, there's very little chance Regal would be interested in taking over Tyro. They tried with Platinum before Platinum was a fund manager (as are they) and they wanted to build scale relatively cheaply.
As far as I have seen, they aren't interested in buying operating businesses. They're interested in managing money that is deployed into buying infrastructure and other hard assets, not tech businesses like Tyro...
However, I do share many poster's sentiments that Tyro is undervalued as it has improved financial performance significantly in recent years, though that growth has slowed sharply in the past 12 months...
They should have the financial capacity to fund a buyback of 10% of stock, and they did say they were exploring it in their recent announcements - announcing and starting that could be a catalyst for a re-rating in the short term, otherwise we'll need to wait until their half-year results released in Feb 2025...
TYR Price at posting:
85.8¢ Sentiment: Buy Disclosure: Held
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