Wincor Nixdorf AG, the German cash-machine maker, said staying independent is the “best course of action” after a report that the company is in talks to be acquired by Diebold Inc. of the U.S.
Wincor isn’t in negotiations over a merger or acquisition, the company said in a statement on its website Wednesday. The Frankfurter Allgemeine Zeitung reported that Diebold and Wincor have begun talks, citing people it didn’t identify.
Shares of Wincor jumped as much as 9 percent and traded 8.1 percent higher at 35.80 euros at 9:11 a.m. in Frankfurt, valuing the company at 1.2 billion euros ($1.4 billion). Wincor, which competes with Diebold and NCR Corp. of the U.S, has relatively weak protection against a potential takeover because of the stock high free float, UBS Group AG analysts wrote it a note.