NCR Is Said Close to Reaching $1.7 Billion Deal with Cardtronics

A bank customer uses the keypad on an automated teller machine (ATM) in Aarhus, Denmark, on Thursday, Sept. 10, 2020. Denmark is re-introducing a number of coronavirus-related restrictions following the worst spike in infections since the height of the pandemic. Photographer: Cathrine Ertmann/Bloomberg

(Bloomberg) -- Cardtronics Plc is in talks to accept a $1.7 billion offer from NCR Corp., according to people familiar with the matter, 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 because the matter is private.

Apollo’s consortium decided not to raise its offer, they added.

NCR earlier this month offered to buy Cardtronics for $39-per-share, topping the $35-per-share that Apollo and its partner had put up last year.

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

A representative for Cardtronics and Apollo declined to comment. NCR and Hudson Executive couldn’t immediately be reached.