Potentia has now informed Tyro that, in light of the Revised Indicative Proposal, Grok “cannot take any action under a competing proposal, unless that competing proposal has a value of $1.85 per share or greater”. Tyro understands that the Voting and Acceptance Deed will continue in force until 7 March 2023 and may extend up to 7 June 2023.
So they lobbed another bid at 1.60 which is rejected already. Westpac has pulled out officially. The way I understand it is unless they get a counter offer from someone else for 1.85 or more, Potentia won't counter again. They sure are desperate to buy Tyro it looks like which means this isn't finished yet.
This might just flush out a realistic offer now above $2 after all.
TYR Price at posting:
$1.49 Sentiment: None Disclosure: Not Held
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