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Diebold in talks to acquire Wincor

Proposed terms of a deal under consideration call for Diebold Inc. to buy all issued and outstanding shares of Wincor Nixcorf AG.

October 18, 2015

Wincor Nixdorf AG and Diebold Inc. officially revealed on Saturday that the two companies are in discussions regarding "a potential business combination."

A Wincor press release said that the companies have entered into a "term sheet" outlining parameters of a deal, which would involve a public tender offer by Diebold to purchase all issued and outstanding shares of Wincor Nixdorf.

According to the release, Diebold is proposing to offer 52.50 euros ($59.64) per Wincor share — with a total value of approximately $1.7 billion — to be paid through a combination of cash and Diebold shares.

However, the release said, "The term sheet is legally nonbinding and the entry into the transaction is still subject to material conditions and analyses, in particular the completion of mutual due diligences."

Wincor announced earlier this year that it was examining strategic options for strengthening its market position, which has been challenged by decreasing hardware margins and economic uncertainty in the company's principal markets in Europe.

Soon afterward, media reports surfaced suggested that Wincor Nixdorf was considering acquiring — or being acquired by — a rival. However, a spokesperson for the company told ATM Marketplace in June that reports of a purchase of the company by Diebold were "unsubstantiated."

For much of this year, NCR Corp. also has been the subject of buyout rumors — all of which it has denied. Most recently it was reported  that the company was not able to reach acceptable terms with an interested buyer (identified as the Blackstone Group) and had terminated all sale discussions.

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Diebold Nixdorf

As a global technology leader and innovative services provider, Diebold Nixdorf delivers the solutions that enable financial institutions to improve efficiencies, protect assets and better serve consumers.

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