NCR to Close $ 1.7 Billion Deal with Cardtronics

Photographer: Cathrine Ertmann / Bloomberg

Cardtronics Plc is in talks to accept a $ 1.7 billion offer from NCR Corp., people familiar with the matter say after ATM operator outbid Apollo Global Management Inc. and Hudson Executive Capital LP.

The companies could announce a deal as early as Monday, the people said, asking not to be identified as the matter is private.

The Apollo consortium decided not to increase its supply, they added.

NCR earlier this month offered to buy Cardtronics for $ 39 per share, exceeding the $ 35 per share that Apollo and its partner put in place last year.

Shares of Cardtronics closed at $ 40.86 in New York on Friday, giving the Hatfield, England-based company a market value of around $ 1.8 billion.

A representative for Cardtronics and Apollo declined to comment. NCR and Hudson Executive could not be contacted immediately.

– With the help of Matthew Monks