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Tyro Withdraws from Smartpay Deal as Rival Secures Exclusive Cash Offer

3:26am on Monday 2nd of June, 2025 AEST Financial Services
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Tyro Withdraws from Smartpay Deal as Rival Secures Exclusive Cash Offer

3:26am on Monday 2nd of June, 2025 AEST
Key Points
  • Tyro withdraws from Smartpay acquisition process
  • Smartpay accepts exclusivity with another party's NZ$1.20 per share cash offer
  • Tyro's due diligence and updated merger proposal cut short
  • Competitive bidding process highlights sector consolidation pressures
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