Tyro shares slump 16 per cent as Potentia walks from takeover bid
Tyro Payments shares fell more than 16 per cent on Monday after the company said Potentia Capital, a private equity firm backed by ex-MYOB chief executive Tim Reed, had walked away from its bid for the payments business.
The two sides were split about what caused the transaction to fail. Privately, sources close to Potentia pointed to Tyro’s falling transaction values – even as inflation remained high – while others suggested the private equity group would be unable to return a banking licence in the timeframe required.
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