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AAP
AAP
Business
Derek Rose

Westpac walks away from Tyro Payments

Westpac ASX
Westpac told the ASX that making a bid for Tyro wasn't in the best interest of Westpac shareholders. (James Ross/AAP PHOTOS) (AAP)

Westpac has decided not to make a bid for Tyro Payments, and the eftpos machine provider's board has rejected an offer from a private equity firm.

Tyro told the ASX on Monday that Sydney-based Potentia Capital Management's $875 million, $1.60-per-share offer "significantly undervalues" the company.

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