ATM maker NCR may soon need to remove the “for sale” sign from its lawn, two sources close to the situation said.
The $3.8 billion Atlanta company, which also makes barcode scanners and self-checkout kiosks, put itself up for sale in early May, attracting two bidders who have walked away in recent weeks without striking a deal, the sources said.
No new bidders have since stepped up to the plate, the sources added.
The two private equity firms who expressed interest in making an offer include Warburg Pincus and Apollo Global Management, the sources confirmed. Media reports about Warburg Pincus’ and Apollo’s interest in NCR in late May sent the company’s stock over $30 a share.
NCR closed up 0.8 percent Tuesday to $31.33 a share, but fell in late trading as much as 7 percent after The Post’s posted this story online.
ATMs worldwide fell 1 percent in 2018 to 3.24 million due to branch closures and the rising popularity of mobile payments — the first ever recorded decline in global ATMs, according to consulting firm RBR.
The number of US ATMs has also fallen one percent.
If NCR, which controls 27 percent of the global ATM market, attracts no new bidders, it will mark the company’s second failed sales attempt in under five years.
Following a failed auction in 2015, the company turned to Blackstone Group for a cash infusion, selling the private equity giant $820 million worth of NCR convertible shares that paid a 5.5 percent interest rate.
Those shares convert into NCR stock at $30 a share.
If there were a shareholder vote on a sale, Blackstone would get to vote its convertible shares as if it had converted the stake, giving it a major say in the process, public filings show.
An NCR spokesperson was not immediately available for comment.