Brink's Shares Tumble, NCR Stock Rises on Report of Merging ATM Business

Dow Jones

Oct 12, 2023

By Ben Glickman

NCR Corp. stock jumped and Brink's Co. shares fell after Reuters reported NCR was in talks to merge its ATM business with the cash management company.

Brink's shares fell 6.3% to $68.89 in midday trading and are up 28% this year. NCR shares, which are up 22% this year, rose 7.1% to $28.59 after the news.

The deal, which could be wrapped up as soon as next week, would create a combined company worth about $12 billion including debt, valuing NCR's ATM business at $5.5 billion.

The arrangement would give a portion of the combined company to NCR shareholders.

NCR has been seeking to spin off its ATM-focused business into a separate company called NCR Atleos. The company will be renamed NCR Voyix after the spinoff.

NCR said Wednesday that Chief Executive Michael Hayford would retire after the spinoff was completed next week.

Write to Ben Glickman at ben.glickman@wsj.com

(END) Dow Jones Newswires

October 11, 2023 12:20 ET (16:20 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

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