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Cardpoint shares jump after bid approach

April 26, 2006

Reuters: Shares in United Kingdom-based ATM operator Cardpoint rose as much as 11.5 percent April 27, after the company confirmed it received a preliminary bid approach from an unidentified suitor. Cardpoint, which has more than 1,800 ATMs in Britain, said discussions were at an early stage and that there was no certainty of an offer. Cardpoint said in January its first-quarter performance had been satisfactory after its acquisition of rival Moneybox.

"In response to the movement in its share price, Cardpoint confirms that it has received a preliminary approach regarding a potential offer for the company," the group said in a statement.

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Read also, U.K.'s Cashbox shows promise after public offering and Cardpoint begins to perk after Moneybox acquisition.