(Adds details on the deal, background)
May 22 (Reuters) - Australia's Tyro Payments (TYR) said on Monday it has ended deal discussions with suitor Potentia Capital, months after the payment terminals firm rejected the private equity group's A$875 million ($593.5 million) buyout proposal.
Potentia's decision to withdraw the offer follows Tyro granting it due diligence and engaging in "extensive negotiation" of material commercial terms, Tyro said in a statement.
"Tyro also worked with Potentia to develop processes that could potentially address regulatory requirements to reduce risk to Tyro by providing increased confidence of completion in a reasonable timeframe," it added.
Potentia had first offered to buy Tyro for A$1.27 per share in September, then improved its offer to A$1.60 in December.
Tyro
rejected
both offers, saying they undervalued the company.
In January, Tyro opened the door to re-engaging with Potentia by offering it
access to its books
to come up with an improved proposal and confirm the necessary funding commitments.
Potentia did not immediately respond to a Reuters' request for comment. ($1 = 1.4743 Australian dollars)
(Adds details on the deal, background) May 22 (Reuters) -...
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Last
$1.24 |
Change
-0.005(0.40%) |
Mkt cap ! $652.8M | |||
| Open | High | Low | Value | Volume |
| $1.23 | $1.25 | $1.20 | $1.216M | 991.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2000 | $1.23 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.24 | 41784 | 2 |
View Market Depth
| Last trade - 16.10pm 15/09/2025 (20 minute delay) ? |
| TYR (ASX) Chart |