Investment management firms Apollo Global Management and Hudson Executive Group are looking to acquire all outstanding shares of Cardtonics plc, the ATM operator, according to a press release.
Cardtronics has received a proposal from the two companies to acquire all outstanding shares for $31 in cash, according to a press release.
Douglas Braunstein, founder and managing partner of Hudson Executive Capital LP, has recused himself from any discussions that the Cardtronics board of directors has had regarding any transaction.
The other members of the Cardtronics board of directors will review and assess the terms of the proposal.
No specific timetable has been set, and there can be no assurances that the review of this proposal will result in the consummation of any agreement or transaction. The company does not intend to make any further public comments regarding this matter unless and until the Cardtronics board of directors approves a specific course of action or has otherwise determined that further disclosure is appropriate or required by applicable law.