Shares of NCR Corp. rose and Brink’s Co. shares fell following reports that NCR is in discussions to merge its ATM business with the cash management company. The deal, expected to be finalized next week, would value NCR’s ATM business at $5.5 billion and result in a combined company worth approximately $12 billion, including debt.
Share Movement
Brink’s shares experienced a decline of 6.3% to reach $68.89 during midday trading. However, the stock has still shown an overall increase of 28% this year. On the other hand, NCR shares surged by 7.1% to $28.59 after the news. The value of NCR shares has risen by 22% throughout this year.
Creation of Combined Company
Upon completion of the merger, a portion of the company will be given to NCR shareholders. Notably, NCR has been actively working towards separating its ATM-focused business into a new entity called NCR Atleos. Subsequently, the newly formed company will be renamed NCR Voyix.
CEO Retirement
Chief Executive Officer Michael Hayford of NCR announced his retirement, effective after the completion of the upcoming spinoff next week.
