Australia's Tyro Payments offers suitor Potentia access to books (updated)

Tyro Payments

26/01/2023 22:52

(Adds details, background)
       Jan 27 (Reuters) - Australia's Tyro Payments  TYR.AX 
has offered Potentia Capital access to its books for four weeks,
the payment terminals firm said on Friday, more than a month
after it rejected the private equity firm's A$875 million ($593
million) buyout proposal.
    The due diligence will enable Potentia "to develop a
significantly improved proposal and confirm the necessary
funding commitments attached to any possible future offer," Tyro
said.
    Potentia first offered to buy Tyro for A$1.27 per share in
September and then improved its offer to A$1.60 in December.
    Tyro rejected both the offers saying they undervalued the
company.
 (Reporting by Himanshi Akhand in Bengaluru; Editing by Sriraj
Kalluvila)
 ((Himanshi.Akhand@thomsonreuters.com;))