NCR offers to buy ATM operator Cardtronics for $1.7 billion

NCR offers to buy ATM operator Cardtronics for $1.7 billion

Risk Disclaimer >>
Ad disclosure Fintech-Insight stands firm in its mission to facilitate sound financial decisions for you. We forge alliances with specialists to provide the latest in news and facts. Engagement with designated links, sponsored entries, products and/or services, leading transfers to brokers, or promotional content might entail financial recompense for us. We pledge to protect our users from any negative repercussions arising from utilizing our site. Be informed that no content hosted here should be interpreted as authoritative in legal, tax, investment, financial matters or any expert counsel; it is meant for informational purposes exclusively. Should there be any concerns, securing the guidance of an independent financial consultant is recommended.

NCR offered to buy Cardtronics for more than $1.7 billion, beating an earlier bid for the ATM operator from Apollo Global Management and a partner.

NCR, based near Atlanta, proposed a $39 per share all-cash deal, according to a statement on Monday. That compares with the $35 put up by the private-equity firm Apollo and Hudson Executive Capital LP late last year.

Cardtronics, which has a network of 285,000 ATMs across 10 countries, has benefited from partnering with lenders looking to offer customers access to cash even as they cut the number of full-scale branches. The trend has helped to offset a longer-term decline in transactions using hard currency.

Cardtronics shares traded 0.3% higher at $41.19 as of 9:58 a.m. in New York, having gained 15% on Friday, when Dow Jones first reported the NCR approach.

“Cardtronics’ debit network is highly complementary to NCR’s payments platform and will enable the combined company to seamlessly connect retail and bank customer,” NCR Chief Executive Michael Hayford said in the statement.

NCR stock fell 3.4%.

Risk Disclaimer

Fintech-Insight is dedicated to delivering unbiased and dependable insights into cryptocurrency, finance, trading, and stocks. However, we must clarify that we don't offer financial advice, and we strongly recommend users to perform their own research and due diligence.

Leave a Reply