In today’s briefing:
- Tyro Payments Rejects Potentia’s Proposal. MCB Accepts
Tyro Payments Rejects Potentia’s Proposal. MCB Accepts
- Tyro Payments (TYR AU) has rejected a proposal from a Potentia-led consortium at A$1.27/share, by way of a Scheme.
- Mike Cannon-Brookes’ Grok Ventures, holding 12.5% and Tyro’s largest shareholder, has backed the Offer.
- Tyro’s board considered the proposal to be materially below Tyro’s fundamental value and highly opportunistic. Tyro’s share price was down 66% ytd prior to Potentia’s approach.
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