Australia's Tyro Payments gains on reports of Potentia's sweetened bid

Tyro Payments

27/03/2023 03:59

** Shares of Tyro Payments  TYR.AX  rise as much as 6% to
A$1.50, set for their best day since Jan 27, if gains hold
    ** The payment terminals firm confirms it has not received
any further proposal from private-equity firm Potentia Capital
since Dec 11
    ** Local media reports Tyro and Potentia have ramped up
talks about binding bid at around A$1.70 per share, which
represents a 20.1% premium to TYR's last close 
    ** Co, on Jan 27, offered Potentia access to its books for
four weeks, more than a month after it rejected the buyout
proposal
    ** TYR on Dec 12 rejected a new A$875 mln ($581.61 mln)
proposal from Potentia Capital, after turning down another offer
in Sept, last year
    ** TYR at its highest level since March 9
    ** YTD stock flat, as of last close 
 
   ($1 = 1.5044 Australian dollars)

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))