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NCR ends sale course of, to separate into two firms (NYSE:NCR)

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Philip Openshaw/iStock Editorial through Getty Photos

NCR Corp. (NYSE:NCR) ended a course of to promote itself and determined to separate into two firms.

NCR’s (NCR) board accredited a plan to separate NCR into two unbiased, publicly traded firms – one centered on digital commerce, the opposite on ATMs, in response to a statement.

“All through the strategic assessment course of, we acquired materials curiosity in a complete firm sale of NCR, in addition to curiosity in varied particular person segments of our enterprise,” Frank R. Martire, govt chairman of NCR’s board mentioned within the assertion. “In latest days, it has change into more and more clear to the Board that, given the state of present financing markets, we can not ship a complete firm transaction that displays an applicable and acceptable worth for NCR to our shareholders.”

The tip of the strategic assessment comes after WSJ in July mentioned Veritas Capital was in unique talks to purchase the company. Late final month CNBC reported that Veritas was nonetheless trying to obtain financing for a deal.

The NCR board engaged BofA Securities, Goldman Sachs and Evercore as monetary advisors in the course of the strategic assessment course of.

NCR, a know-how supplier for retail shops, eating places and banks, initiated a strategic review in February.

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