Tyro Payments on its part said, it received “unsolicited approaches” from “several parties” including Potentia Capital Management and Westpac, who expressed an interest in “a potential change of control transaction”.After “extensive discussions” with the interested parties, Tyro says it will now “cease all current discussions” related to a possible acquisition “as those discussions have not resulted in a proposal that the board believes fairly values Tyro”.
Westpac put an offer on the table to management but they rejected it as it was a low balling offer. If they put a higher bid. They would have accepted it.
TYR Price at posting:
90.0¢ Sentiment: Hold Disclosure: Held
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