Tyro Payments (ASX:TYR) rejected two non-binding indicative offers from Potentia, stating that they significantly undervalued the company. The Tyro board offered Potentia a 4 week period of due diligence to develop a significantly improved proposal and confirm funding commitments for any possible future offer, but there is no guarantee that a further offer or any kind of transaction will happen. Shares are trading 5.4 per cent higher at $1.57.
Fortescue Metals (ASX:FMG) shipped a record volume of iron ore in the six months to December 2022, 4% higher than the same period in the previous year, and 17% higher than four years earlier. This puts the company on track to meet its full-year export target, despite the Iron Bridge magnetite project suffering cost and schedule blowouts, and likely to make a weaker-than-expected contribution to the goal. Shares are trading 1.42 per cent higher at $22.80.
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