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Financial Services

Tyro jumps on takeover interest, but says offers fall short of value

Tyro shares surged 8% to $1.16 after hitting $1.21, as the payments group confirmed multiple unsolicited takeover approaches, though none met its “intrinsic value”.

Volumes topped 2 million shares.

The company, which entered a trading halt Tuesday after a 10.5% jump, said it remains open to offers delivering sufficient shareholder value.