Australia's Tyro tumbles after rejecting bid from Potentia Capital

Tyro Payments

11/12/2022 23:55

** 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
    ** Tyro had previously rejected Potentia's A$1.27 per-share
indicative offer in September for a similar reason
    ** Westpac  WBC.AX  ended its discussions with co, saying it
was not in the best interest of its shareholders - Tyro
    ** Tyro stock hits its lowest since Sept 1 
    ** TYR had fallen 47.9% this year, as of last close
 (Reporting by Nausheen Thusoo in Bengaluru)
 ((Nausheen.Thusoo@thomsonreuters.com;))