Deals
Diebold Takeover of ATM Rival Wincor Barely Clears Hurdle
- Holder acceptance of 68.9 percent tops 67.6 percent minimum
- Deal would create world's biggest cash machine manufacturer
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Diebold Inc. narrowly survived a shareholder vote on its planned takeover of German rival Wincor Nixdorf AG, a deal that creates the world’s largest maker of cash machines and systems with more than $5 billion in sales.
Wincor investors controlling 68.9 percent of the company’s stock agreed to the offer by the March 22 deadline of midnight in Germany, surpassing the minimum threshold of about 67.6 percent, North Canton, Ohio-based Diebold said in a statement on Thursday. The company expects the deal to be completed this summer.