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Apollo Global Management LLC Class A Representing Class A Limitied Liability Company Interests
Shares of Cardtronics (NASDAQ: CATM) were up more than 15% on Friday afternoon after the nonbank ATM operator said it had received a new, higher buyout offer. Last month the markets seemed to be anticipating a bidding war, and it now appears Cardtronic does indeed have multiple suitors.
Shares have been gaining ground since early December. The company at that time announced it had received an offer from funds associated with Apollo Global Management (NYSE: APO) and Hudson Executive Capital (NASDAQ: HEC) to acquire its shares for $31 each in cash. Weeks later, the buyers sweetened that offer to $35, valuing Cardtronics at $2.3 billion including debt.