News

NCR Corp. to buy back 37.4M tendered shares for $1B

The shares represent approximately 22 percent of NCR common stock outstanding as of Nov. 9, the company says.

December 14, 2015

NCR Corp. has announced the preliminary results of its modified "Dutch auction" tender offer, which expired Friday, Dec. 11, at midnight EST.

Shareholders of NCR had the opportunity to tender shares of the company's common stock pursuant to auction tenders at prices specified by the tendering shareholders of not less than $26 per share and not greater than $29.50 per share or purchase price tenders, which were deemed to have been tendered at the minimum price of $26 per share.

Based on the preliminary count by the depositary for the tender offer, a total of approximately 41.2 million shares of NCR common stock were validly tendered and not validly withdrawn at or below a purchase price of $26.75 per share, including approximately 21 million shares that were tendered through notice of guaranteed delivery.

Based on the preliminary count by the depositary for the tender offer, NCR expects to repurchase approximately 37.4 million shares at a purchase price of $26.75 per share, for a total cost of approximately $1 billion, excluding fees and expenses related to the tender offer. The shares represent approximately 22 percent of NCR common stock outstanding as of Nov. 9.