World Economy

Diebold Offers To Buy Wincor Nixdorf

Diebold Offers To Buy Wincor NixdorfDiebold Offers To Buy Wincor Nixdorf

ATM maker Diebold Inc. is offering to take over Wincor Nixdorf of Germany in a deal that would value the German company at more than €1.7 billion ($1.9 billion), Associated Press reported. The companies said Saturday that they entered a non-binding term sheet agreement on “the key parameters of a potential strategic business combination.” They said that Diebold is offering €52.50 per Wincor Nixdorf share - substantially above the stock’s closing price on Friday of €38.90. The acquisition would be paid for in cash and Diebold shares, said Diebold, which is based in North Canton, Ohio. It added that due diligence still has to be completed by both sides, and “there can be no assurance that any binding agreement will be reached at the above mentioned terms, or at all.”