NCR jumps on report of multiple buyout interest
Apr. 29, 2022 11:42 AM ETNCR Corporation (NCR)APOBy: Joshua Fineman, SA News Editor
- NCR Corp. (NYSE:NCR) soared 11% on a report that it has attracted takeover interest from at least six parties as the ATM maker explores alternatives.
- Apollo Global (APO) is one party that is said to have expressed interest, according to a Dealreporter item. The interest was said to be for $50/share or higher, though this was prior to NCR's earnings miss on Tuesday.
- NCR is said to be leaning towards a sale of the entire company, according to Dealreporter. NCR wants to make a decision and finalize a transaction by the summer.
- The report comes after NCR plunged 23% on Wednesday after the software company reported first quarter earnings that fell short of consensus.
- NCR announced in early February that it started a strategic review that could include the sale of the company or some of its businesses, a spinoff, or other structural changes.