Published On: Wed, Jun 17th, 2015

Blackstone and Carlyle Join in $10 Billion NCR Takeover Bid

NCR stock jumped 13% on the revelation.

Stephen Schwarzman

Stephen Schwarzman’s Blackstone Group is joining with the Carlyle Group in a $10 billion takeover bid for NCR, this according to an exclusive report made by Reuters yesterday afternoon. As a result of the news, NCR stock jumped by more than 13%.

Reuters did not reveal any details of the bid by the two titans for NCR which is best known for making cash registers and ATMs. All the report stated was that it would be a leveraged buyout.

The two companies face competition in their bid from a number of other firms such as, Apollo Global Management LLC (APO.N) and Thoma Bravo LLC.

NCR’s stock reached a high of $35.52 yesterday. As of this post, it is trading at $34.73, up 10.71% from yesterday’s open.

“The Street” says of NCR stock: “We rate NCR CORP (NCR) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. Among the primary strengths of the company is its generally strong cash flow from operations. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself.”

Read more about: , , , , , , , , , , , , , , , , ,

Wordpress site Developed by Fixing WordPress Problems