Tyro confirms non-binding offer to acquire Smartpay

Tyro Payments Limited (ASX:TYR) has confirmed it issued a non-binding indicative offer to acquire 100% of Smartpay Holdings Limited (NZX:SPY/ASX:SMP) at NZ$1.00 per share. The offer consideration includes a mix of Tyro shares and cash, with the exact proportion yet to be determined. This announcement follows media speculation over the weekend regarding a potential transaction between the two companies. Tyro is currently in preliminary discussions with Smartpay regarding the proposal, but states there is no certainty that any transaction will result. The company affirmed it would keep the market updated in accordance with its continuous disclosure obligations.