News

NCR sale rumors resurface

The company has postponed its planned investor day, giving rise to speculation that a buyout might still be in the works.

September 10, 2015

After a two-month lull, Wall Street is once again churning out rumors that potential buyers are sizing up NCR Corp. for acquisition.

According to a report by Seeking Alpha, the company is looking like a better bargain following a sharp drop in its share price in mid-July due to a failed buyout negotiation.

Shares were up 4.2 percent yesterday based on the new rumors.

According to a report by the New York Post, an unnamed source "close to the situation" has identified Blackstone Investment Group as the would-be buyer. Another unnamed source told the Post that a deal has been signed already and the parties are simply awaiting arrangements for financing. 

As yet, no details have surfaced as to a bid price, nor has NCR officially announced that it is entertaining offers. However, the company did announce that it is postponing an investor day which was to have taken place next week.

According to a notice posted on the company's website:

NCR expects to host its next Investor Day for financial analysts and institutional investors, which was originally scheduled for September 15, later in 2015.

We will follow up with further details including the date, location and registration instructions as they are finalized.

During the company's Q2 earnings call in July, president and CEO Bill Nuti had said it was "quite possible" that the company would be prepared to discuss the results of its strategic review at the investor event. If the current rumors are correct, those results might still be uncertain.