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Blackstone, NCR deal all but done, WSJ reports

An exclusive report by the Wall Street Journal says that The Blackstone Group has agreed to sink $800M into the company in exchange for a 15 percent stake.

November 11, 2015

In a breaking story late Wednesday afternoon, the Wall Street Journal reported that NCR Corp. and The Blackstone Group are working through the final stages of an investment deal.

The rumored agreement would have Blackstone investing $800 million in the ATM-maker in exchange for a minority stake of approximately 15 percent.

According to WSJ:

Blackstone is expected to receive convertible preferred shares that pay a dividend and two board seats in exchange for the investment, some of the people said.

... The preferred shares are convertible to regular stock at $30, they added.

If this latest in a long string of unconfirmed reports about an NCR buyout is correct, it means the company finallly has reached the end of an unsuccessful months-long search for a buyer.

Rumors about such a transaction have circulated for much of this year, accompanied by up and down bumps in the company's share price with each publicized report.

The Journal reported that NCR stock closed Wednesday at $26.78, giving the company a market value of $4.5 billion.