Tyro chairwoman Fiona Pak-Poy said the board and management had worked in “good faith to facilitate a potential change of control transaction”. “We have appreciated Potentia’s engagement and are disappointed that they were ultimately unable to deliver a revised offer,” she said.
Potentia had first offered to buy Tyro for A$1.27 per share in September 2023, then improved its offer to A$1.60 in December 2023 which valued the Australian company at $A875 million.Tyro rejected both offers, saying they undervalued the company, but in January granted Potentia due diligence to consider tabling a higher offer.
Tyro share price high on the ASX in Q1 2020 was A$4.53 management knew the value of the company is worth more.
TYR Price at posting:
87.5¢ Sentiment: Hold Disclosure: Held
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