NCR - NCR ticks higher on report it could look at sale after financing markets come back
- NCR Corp. ( NYSE: NCR ) rose 1.7% on a report that the company may still look to sell parts or the whole firm when financing markets stabilize.
- NCR, a technology provider for retail stores, restaurants and banks, is said to remain open to selling parts of the business or the entire company, according to a Dealreporter item, which cited people familiar.
- The report comes after NCR plunged 20% on Friday when it said it ended its sale process and decided to split itself into two companies, – one focused on digital commerce, the other on ATMs
- The split may pique the interest of several private equity firms that had expressed interest in individual businesses, according to Dealreporter.
- The end of the strategic review came after WSJ in July said Veritas Capital was in exclusive talks to purchase the company. Late last month, CNBC reported that Veritas was still trying to obtain financing for a deal.
- On Monday Morgan Stanley cut NCR to equal weight from overweight and cut the price target to $27 from $38.
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NCR ticks higher on report it could look at sale after financing markets come back