NCR Bests Competing PE Suitors With $2.5B Cardtronics Buy
Law360 (January 25, 2021, 3:41 PM EST) -- Weil-advised ATM operator Cardtronics PLC will be purchased by Skadden-led NCR Corp. for $2.5 billion, including debt, the companies said Monday, in an agreement that usurps a previous private equity takeover of Cardtronics by Apollo Global and Hudson Executive.
Under the terms of the agreement, Atlanta-based NCR will absorb Houston-headquartered Cardtronics for $39 per share, according to a statement. NCR is a consumer transaction technology provider for the financial, retail and hospitality industries, while Cardtronics is the world's largest nonbank ATM operator.
Michael D. Hayford, president and CEO of NCR, said the deal "adds value for our customers."
"We have had...
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