Tyro Payments has given Potentia Capital four weeks of due diligence in hopes of a “significantly improved proposal”, six weeks after it turned out the suitors.
, saying it wanted to see Potentia come out with a better offer and confirmation of its funding for the bid.Potentia’s made two offers so far - at $1.27 and $1.60 a share - and investors would like to see a bid closer to $1.85.
Tyro’s board is understood to have faced pressure from its largest shareholder, tech billionaire Mike Cannon-Brookes’ Grok Ventures to re-engage with Potentia.co-edits Street Talk, specialising in private equity, investment banking, M&A and equity capital markets. He has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies.
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