NCR Corporation makes offer for Cardtronics

NCR Corporation on Monday offered to buy Cardtronics for about $1.73 billion in cash, threatening to derail the ATM operator’s acquisition by private equity firm Apollo Global Management Inc. and investment firm Hudson Executive Capital.

Apollo and Hudson Executive’s offer indicated a value of $2.3 billion, including net debt. Hudson Executive is Cardtronics’ largest investor with a 19.44% stake. Other investors include BlackRock Institutional Trust and Vanguard.

Houston-based Cardtronics’ debit network combined with NCR’s payments platform will enable the merged company to connect their retail and bank customers, according to NCR’s Chief Executive Officer Mike Hayford.

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