NCR Corporation’s $2.5 Billion Acquisition of Cardtronics

Skadden, Arps, Slate, Meagher & Flom LLP advised NCR, while Weil, Gotshal & Manges LLP and Ashurst LLP advised Cardtronics on the deal. Fried Frank acted as counsel to Goldman Sachs as financial advisor to Cardtronics.

NCR Corporation (NYSE: NCR), a global enterprise technology provider for the financial, retail and hospitality industries, and Cardtronics (Nasdaq: CATM), the world’s largest non-bank ATM operator and service provider, have entered into a definitive agreement under which NCR will acquire all outstanding shares of Cardtronics for $39.00 per share in an all-cash transaction with an enterprise value of approximately $2.5 billion, including debt. The transaction has been approved by the Boards of Directors of both companies.

BofA Securities served as financial advisor to NCR, and Goldman Sachs & Co. LLC served as financial advisor to Cardtronics.

The Skadden team included M&A partners Neil Stronski (Picture), Dohyun Kim and Stephen Arcano. All attorneys are located in New York.

The Ashurst team is being led by corporate partner Karen Davies and senior associate Harry Thimont, with relationship partners Nick Williamson and Tara Waters also acting. Partners Duncan Liddell and Bruce Macdonald are also advising on antitrust and FIRB issues respectively. They are being supported by associates Colin Bugler, Krishna Parikh and Paul Ryan-Brown and trainee solicitor Anxin Hua in London, together with senior associate Anna-Maria Krekeler and transaction lawyer Kathrin Meier in Frankfurt, and associates María López Garayalde, Beatriz Aizpun and Teresa Prado in Madrid. Partner Paul Miller and associate Shayaan Zaraq Bari also provided tax advice. Key transaction support was also provided by a team from Ashurst Advance.

The Weil team advising Cardtronics plc was led by Mergers & Acquisitions partners Michael J. Aiello and Jackie Cohen and includes Mergers & Acquisitions partner David Avery-Gee; Mergers & Acquisitions counsel Aileen Kim; and Mergers & Acquisitions associates Tyler Silvey, Alex Chelesnik and Dorothy Coco (Not Yet Admitted in New York). The team also included Public Company Advisory Group partner Lyuba Goltser; Public Company Advisory Group associate Kaitlin Descovich; International Tax Head Devon Bodoh and Tax partner Greg Featherman; Tax associates Blake Bitter and Kerri Gallagher (Not Yet Admitted in District of Columbia); Executive Compensation & Benefits partners Amy Rubin and Amanda Rosenblum; Banking & Finance partner Allison Liff; Banking & Finance associate Anna McEwen; Capital Markets partner Corey Chivers; Structured Finance & Derivatives partner Ariel Kronman; Structured Finance & Derivatives associates Laura Edwards, Steven Chung and Nicolle Stracar; Technology & IP Transactions partner Karen Ballack; Technology & IP Transactions associates Luis Gonzalez and Seowoo Kim; Cybersecurity, Data Privacy & Information Management associate Robert Brown; Real Estate associates Yelena Nersesyan and Daniel Soso; and Antitrust partners Megan Granger and Vadim Brusser.

Fried Frank advised Goldman Sachs with a team led by corporate partner Philip Richter and included corporate special counsel Roy Tannenbaum and corporate associate Aleksandr Galinskiy.

Involved fees earner: Beatriz Aizpún – Ashurst; Shayaan Zaraq Bari – Ashurst; Colin Bugler – Ashurst; Karen Davies – Ashurst; Anna-Maria Krekeler – Ashurst; Duncan Liddell – Ashurst; Bruce Macdonald – Ashurst; Paul Miller – Ashurst; Krishna Parikh – Ashurst; Paul Ryan-Brown – Ashurst; Harry Thimont – Ashurst; Tara Waters – Ashurst; Nick Williamson – Ashurst; Aleksandr Galinskiy – Fried Frank Harris Shriver & Jacobson; Philip Richter – Fried Frank Harris Shriver & Jacobson; Roy Tannenbaum – Fried Frank Harris Shriver & Jacobson; Stephen Arcano – Skadden Arps Slate Meager & Flom; Dohyun Kim – Skadden Arps Slate Meager & Flom; Neil Stronski – Skadden Arps Slate Meager & Flom; Michael Aiello – Weil, Gotshal & Manges; David Avery-Gee – Weil, Gotshal & Manges; Karen Ballack – Weil, Gotshal & Manges; Blake Bitter – Weil, Gotshal & Manges; Devon Bodoh – Weil, Gotshal & Manges; Robert Brown – Weil, Gotshal & Manges; Vadim Brusser – Weil, Gotshal & Manges; Alex Chelesnik – Weil, Gotshal & Manges; Corey Chivers – Weil, Gotshal & Manges; Steven Chung – Weil, Gotshal & Manges; Jackie Cohen – Weil, Gotshal & Manges; Kaitlin Descovich – Weil, Gotshal & Manges; Laura Edwards – Weil, Gotshal & Manges; Greg Featherman – Weil, Gotshal & Manges; Lyuba Goltser – Weil, Gotshal & Manges; Luis Gonzalez – Weil, Gotshal & Manges; Megan Granger – Weil, Gotshal & Manges; Aileen Kim – Weil, Gotshal & Manges; Seowoo Kim – Weil, Gotshal & Manges; Ariel Kronman – Weil, Gotshal & Manges; Allison Liff – Weil, Gotshal & Manges; Anna McEwen – Weil, Gotshal & Manges; Yelena Nersesyan – Weil, Gotshal & Manges; Amanda Rosenblum – Weil, Gotshal & Manges; Amy Rubin – Weil, Gotshal & Manges; Tyler Silvey – Weil, Gotshal & Manges; Daniel Soso – Weil, Gotshal & Manges; Nicolle Stracar – Weil, Gotshal & Manges;

Law Firms: Ashurst; Fried Frank Harris Shriver & Jacobson; Skadden Arps Slate Meager & Flom; Weil, Gotshal & Manges;

Clients: Cardtronics; Goldman Sachs; NCR Corporation;

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Author: Ambrogio Visconti