Brief: Tyro Payments Updates On Unsolicited Approaches Received From Several Parties

Tyro Payments

11/12/2022 22:22

Dec 12 (Reuters) - Tyro Payments Ltd  TYR.AX :
    * UPDATE IN RELATION TO UNSOLICITED APPROACHES RECEIVED FROM
SEVERAL PARTIES
    * WILL CEASE ALL CURRENT DISCUSSIONS WITH PARTIES IN
RELATION TO A
POSSIBLE CHANGE OF CONTROL TRANSACTION
    * WESTPAC NOTIFIED CO DECIDED THAT SUBMITTING AN OFFER TO
TYRO IS
NOT IN BEST INTERESTS OF WESTPAC SHAREHOLDERS AT THIS TIME
    * WESTPAC NOTIFIED CO THAT IT HAS DECIDED THAT SUBMITTING AN
OFFER
TO CO IS NOT IN BEST INTERESTS OF WESTPAC SHAREHOLDERS AT THIS
TIME
    * DISCUSSIONS HAVE NOT RESULTED IN A PROPOSAL THAT BOARD
BELIEVES
FAIRLY VALUES TYRO
    * REMAINS OPEN TO ENGAGING WITH ANY CREDIBLE CHANGE OF
CONTROL
PROPOSAL IT RECEIVES
    * CONFIRMS THAT IT HAS RECEIVED A REVISED, NON-BINDING AND
INDICATIVE PROPOSAL FROM POTENTIA
    * REVISED INDICATIVE PROPOSAL AT A$1.60 PER SHARE
    * DETERMINED TO REJECT REVISED POTENTIA INDICATIVE PROPOSAL
IN ITS
CURRENT FORM
    * REVISED INDICATIVE PROPOSAL FROM POTENTIA AT AN 
ENTERPRISE
VALUE OF APPROXIMATELY A$875 MILLION
    * NOTED REVISED POTENTIA PROPOSAL COMES AT TIME OF SHARE
MARKET
VOLATILITY, CYCLICAL WEAKNESS IN GLOBAL TECH & PAYMENT CO
VALUATIONS

Source text for Eikon:  ID:nASX8htgsR 
Further company coverage:  TYR.AX 
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