Tyro’s biggest investor, Mike Cannon-Brookes’ Grok, is understood to be pushing the board to resume talks with Potentia Capital, which put the company in play with $1.27 a share offer last September.While price expectations have changed dramatically since, Grok is believed to be of the view that Tyro’s share price still warrants engagement with Potentia and granting it a proper look at the company’s books.
The recent movement at the station comes as Tyro somehow got through last year’s takeover talks with more wind in its sails than expected. Potentia launched its run in September with HarbourVest Partners, MLC Private Equity, Cbus and Aware Super in tow. The syndicate had a 16.1 per cent pre-bid stake, including its agreement with Grok.
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