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Apollo Group in $2.3 Billion Deal for ATM Firm Aided by Pandemic

  • Hudson Executive Capital, Apollo Global to acquire Cardtronics
  • Banks need ATM access after closing thousands of branches
A Bank of America Corp. Bank Branch Ahead Of Earnings Figures
Photographer: Callaghan O'Hare/Bloomberg

A pair of investment firms agreed to shell out $2.3 billion for an ATM operator that’s benefiting from the wave of bank-branch closures during the pandemic.

Cardtronics Plc agreed to be acquired for $35 a share by Hudson Executive Capital LP and Apollo Global Management Inc. on Tuesday. The all-cash deal is expected to be completed in the first half of next year, according to a statement Tuesday.