Photographer: Cathrine Ertmann / Bloomberg
Photographer: Cathrine Ertmann / Bloomberg
Cardtronics Plc is in negotiations to accept a $ 1.7 billion offer from NCR Corp., according to people familiar with the matter, after the ATM operator exceeded the bid Apollo Global Management Inc. and Hudson Executive Capital LP.
Companies can announce a deal as early as Monday, people said, asking not to be named because the matter is private.
The Apollo consortium decided not to increase its offer, they added.
NCR earlier this month offered to buy Cardtronics for $ 39 per share, exceeding the $ 35 per share that Apollo and its partner had placed last year.
Cardtronics shares closed on Friday at $ 40.86 in New York, giving the Hatfield, England-based company a market value of about $ 1.8 billion.
A Cardtronics and Apollo representative declined to comment. NCR and Hudson Executive could not be reached immediately.
– With the help of Matthew Monks