Australia's Tyro Payments confirms takeover interest from separate parties
The stock surged more than 10% before trading was paused on Tuesday, with the company later saying its shares would remain suspended pending a response to a price query.
Tyro did not disclose the identities of the interested parties or any financial details of the proposals.
"The interest received is not at a level that the Tyro Board has considered representative of Tyro's intrinsic value," the payments provider said, but it remains open to engaging with offers that deliver sufficient value to shareholders.
Tyro's market value stood at A$565.77 million ($369.33 million), according to LSEG data.
The Australian Financial Review reported in April that U.S. fintech giant Stripe had held preliminary talks with Tyro, citing people with detailed knowledge on those discussions.
Tyro's shares have faced volatility since private equity firm Potentia Capital abandoned a takeover bid in 2023 that valued the company at A$875 million.
($1 = 1.5319 Australian dollars)
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