Cardtronics gains after hours as $39/share bid from third party revealed

Jan. 07, 2021 6:48 PM ETCardtronics plc (CATM), APOCATM, APOBy: Joshua Fineman, SA News Editor
  • Cardtronics (NASDAQ:CATM) spiked up 14% to $40.50 in after hours trading after the company revealed that it received an offer from an undisclosed party for $39/share in cash, above the $35 deal it struck with Apollo (NYSE:APO) and Hudson Executive last month.
  • Cardtronics said it received an unsolicited offer from unidentified ``Party L'' on Dec. 31, according to proxy filing; on Jan. 4, CATM entered into a non-disclosure agreement with the unidentified party in connection with its Dec. 31 proposal
  • The original acquisition agreement remains in full force and effect and the Cardtronics board reaffirmed its support of and recommendation
  • Apollo and Hudson Executive originally offered $31/share for Cardtronics

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