The takeover show’s far from over at Tyro Payments, with the board under sustained pressure to re-engage with suitors and lock in a bigger bid.
Tyro’s biggest investor, Mike Cannon-Brookes’ Grok, is understood to be pushing the board to resume talks with Potentia Capital, which put the company in play with $1.27 a share offer last September.While price expectations have changed dramatically since, Grok is believed to be of the view that Tyro’s share price still warrants engagement with Potentia and granting it a proper look at the company’s books.
The recent movement at the station comes as Tyro somehow got through last year’s takeover talks with more wind in its sails than expected. Potentia launched its run in September with HarbourVest Partners, MLC Private Equity, Cbus and Aware Super in tow. The syndicate had a 16.1 per cent pre-bid stake, including its agreement with Grok.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Twitter sued by crown estate over alleged unpaid rent on London HQSocial media platform abandoned its offices near Piccadilly Circus after Elon Musk takeover
Read more »
Intervention fears cloud Origin deal as investors hold breathThe impact of the government’s price intervention is one factor behind the delay in firming up a takeover by Brookfield and EIG.
Read more »
Clock ticks on Origin deal, but no panic yetExclusivity on Origin’s $18.4 billion takeover might have passed, but investors remain confident a binding bid will be lodged.
Read more »
Video shows Halls Creek youths pelting business owner with rocks in attempted carjackingA business owner says the latest incident he's faced is a worrying escalation as Halls Creek struggles with record youth crime rates.
Read more »
Justin Roiland dropped from two more TV shows after domestic abuse chargesRoiland, who has pleaded not guilty, will no longer work on Hulu shows Solar Opposites or Koala Man, as well as being dropped from Rick and Morty
Read more »
US air safety board says Boeing 737 MAX likely hit a bird before crashing in EthiopiaUS accident investigators disagree with Ethiopian authorities over the cause of a sensor malfunction that preceded a March 2019 crash of a Boeing 737 MAX shortly after take-off from Addis Ababa.
Read more »