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NCR in talks to create US$12 billion ATM company with Brink's: Report

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NEW YORK: NCR Corp is in advanced talks to merge its automatic teller (ATM) business with cash management firm Brink's Co, creating a combined company worth close to US$12 billion, including debt, people familiar with the matter said. The deal, structured as a Reverse Morris Trust, would allow NCR to merge

FILE PHOTO: Mike Hayford, President and CEO of NCR Corporation, rings the opening bell at the New York Stock Exchange in New York, U.S., November 7, 2018. REUTERS/Brendan McDermid/File PhotoNEW YORK: NCR Corp is in advanced talks to merge its automatic teller business with cash management firm Brink's Co, creating a combined company worth close to US$12 billion, including debt, people familiar with the matter said.

That valuation equates to seven times the projected earnings before interest, taxes, depreciation and amortization of NCR's ATM business in 2024, the sources added. The sources cautioned that an agreement is not certain and asked not to be identified because the matter is confidential.NCR shares rose 9 per cent on the news, while Brink's shares dropped 10 per cent in afternoon trading in New York on Wednesday, reflecting the transfer of value in the potential transaction from Brink's as an acquirer of the ATM business to NCR as a seller.

The Brink's management team, led by CEO Mark Eubanks, will lead the newly created company should the deal be agreed, the sources said.

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Exclusive-NCR in talks to merge ATM business with Brink's -sourcesNEW YORK : NCR Corp is in advanced discussions to merge its automatic teller (ATM) business with cash management firm Brink's Co, creating a combined company worth close to $12 billion, including debt, people familiar with the matter said.The deal, structured as a reverse morris trust, would allow NCR to
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