Australia's Tyro Payments sinks on rejecting Potentia bid

Tyro Payments

12/12/2022 01:00

(Adds comments from Jefferies)
    ** Shares of Australia's Tyro Payments Ltd  TYR.AX  fall as
much as 22.5% to A$1.155 - set to mark worst day since Feb 21,
if losses hold 
    ** Payment terminals firm rejects revised proposal of A$1.60
per share from private equity firm Potentia Capital 
    ** Says higher offer continues to undervalue co
    ** In a separate statement, Westpac  WBC.AX  says it ended
discussions with TYR, saying it was not in the best interest of
its shareholders 
    ** Brokerage Jefferies, however, says TYR remains in play
and that both Potentia and Westpc remain potential acquirers
    ** Jefferies adds TYR ending talks with both parties is a
"relatively standard move to force the hands of interested
parties"
    ** Tyro stock hits its lowest since Sept 1 
    ** TYR had fallen 47.9% this year, as of last close
 (Reporting by Nausheen Thusoo and Himanshi Akhand in Bengaluru)
 ((Nausheen.Thusoo@thomsonreuters.com;))