Tyro Withdraws from Smartpay Acquisition Process
Open PDF
| Stock | Smartpay Holdings Ltd (SMP.ASX) |
|---|---|
| Release Time | 5 May 2025, 8:03 a.m. |
| Price Sensitive | Yes |
This feature provides summaries of price-sensitive announcements for companies followed by users on InvestorPA.
The summaries are generated by large language models so please interpret with care.
Tyro Withdraws from Smartpay Acquisition Process
Key Points
- Tyro confirms it is no longer participating in an acquisition process with Smartpay
- Tyro had submitted a proposal and was conducting due diligence as part of a competitive process
- Smartpay has entered an exclusivity arrangement with another party for a cash offer of NZ$1.20 per share
Full Summary
Tyro Payments Limited (Tyro) has confirmed that it is no longer participating in an acquisition process with Smartpay Holdings Limited (Smartpay). Tyro had previously submitted a proposal and was conducting due diligence as part of a competitive process. However, on Friday, 2 May, Tyro was informed that Smartpay had decided to enter an exclusivity arrangement with another party for a cash offer of NZ$1.20 per share. This decision was made prior to the conclusion of the agreed due diligence process and the receipt of an update to Tyro's cash and scrip synergistic merger proposal.
Sign in to get more information about the company, including guidance changes and other insights.
Sign In