The Tyro Payments Ltd (ASX: TYR) share price is on course to start the week with a solid gain.
In afternoon trade, the payments company's shares are up over 3% to $1.46.
This compares favourably to the performance of the S&P/ASX 300 index, which is up 0.2% at the time of writing.
Why is the Tyro share price pushing higher?
Investors have been scrambling to buy Tyro's shares today amid speculation that a new takeover offer could be coming.
According to the AFR, its sources claim that Potentia is close to tabling a $1.70 per share offer for the payments company. This comes after the company granted the private equity group non-exclusive due diligence on 10 February.
Though, whether that offer would be enough to get a unanimous recommendation from Tyro's board, is hard to say.
What's the latest?
This morning, Tyro responded to the media speculation and revealed that it has not received a proposal from Potentia. However, it has confirmed that talks are continuing between the two parties.
Though, it also warns that there's no guarantee that these talks will result in a binding offer being made. The company explained:
Tyro confirms that it has not received any further proposal from Potentia since 11 December 2022, and that should it receive a revised proposal from Potentia, Tyro will inform the market in accordance with its continuous disclosure obligations.
Although Tyro continues to be in discussions with Potentia in relation to a possible change of control transaction, Tyro shareholders do not need to take any action. There is no certainty that these discussions will result in a non-binding indicative offer, a binding offer or a transaction of any kind.
