<article>Australia&#8217;s Tyro Payments said on Monday it has ended deal discussions with suitor Potentia Capital, after the private equity firm said it does not intend to proceed with a proposal to acquire the company.</article>

Australia&#8217;s Tyro Payments said on Monday it has ended deal discussions with suitor Potentia Capital, after the private equity firm said it does not intend to proceed with a proposal to acquire the company.
Potentia had first offered to buy Tyro for A$1.27 per share in September, then improved its offer to A$1.60 in December.
Tyro rejected both offers, saying they undervalued the company.
Potentia&#8217;s decision to withdraw the offer follows Tyro granting it due diligence and engaging in &#8220;extensive negotiation&#8221; of material commercial terms, Tyro said in a statement.
&#8220;Tyro also worked with Potentia to develop processes that could potentially address regulatory requirements to reduce risk to Tyro by providing increased confidence of completion in a reasonable timeframe,&#8221; it added.
In January, Tyro opened the door to re-engaging with Potentia by offering it access to its books to come up with an improved proposal and confirm the necessary funding commitments.
Tyro said on Monday it was &#8220;disappointed&#8221; that Potentia was ultimately unable to deliver a revised offer, adding that the company&#8217;s prospects remain strong.
Potentia did not immediately respond to a Reuters&#8217; request for comment.
Reuters

Tyro rejected two offers from the PE firm, saying they undervalued the company.

Potentia walks away from offer to buy Australia's Tyro Payments

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Potentia walks away from offer to buy Australia's Tyro Payments

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