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.