Shares of Brink’s (BCO) moved off their lows after the company issued a statement saying it is not in discussions about a possible strategic transaction with NCR Corporation (NCR). Reuters earlier today reported, citing people familiar with the matter, that NCR is in advanced talks to merge its automatic teller machine business with Brink’s (BCO) to create a combined company worth close to $12B, including debt. Shares of Brink’s are down 5% in afternoon trading to $69.81 while NCR gave up some gains but is still up 1% to $26.94.
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