Good evening,

Tyro Payments was the deal disappointment of today.

As expected by Street Talk, it had no update on talks with Westpac Banking Corp, Potentia Capital or any other suitors on its AGM day, which only creates doubt about whether its suitors’ interest is still genuine.

It’s six weeks since Westpac confirmed it was in preliminary talks with Tyro, which is usually about the length of time it takes to run due diligence (provided the target’s ready).

Those involved reckon the talks are ongoing - it just remains to be seen whether they lead to anything more.

In Street Talk tonight, we have a new sell-side mandate at Rothschild and some interesting whisky M&A talks.

And we also look at CWP Renewables as the $4 billion-plus auction heats up. Bids are due on Monday.

Happy reading,

Anthony Macdonald, Sarah Thompson and Kanika Sood

Street Talk editors