Australian lender Westpac Banking Corp has roped in investment bankers from U.S. banking giant JP Morgan to advise it on a bid to buy payment terminals firm Tyro Payments Ltd, the Australian Financial Review reported on Monday.
Australia’s top two lenders, Commonwealth Bank of Australia and National Australia Bank, have also been understood to have considered a play for the payments platform firm, but have not tapped in a counsel yet, the report said without naming any sources.
Tyro shares closed 8.7% higher at A$1.56, but have lost nearly half of their value so far this year. As of Monday’s close, Tyro had a market value of A$807.6 million ($503.78 million).
Read more: Reuters
