NCR Corp. Tanks On Decision To Split The Company Into Two

(RTTNews) - Shares of ATMs and point-of-sale systems provider NCR Corporation (NCR) are falling more than 24% Friday morning after the company announced its decision to split into two.

After the split, one company will be focusing on digital commerce business and the other on ATM. The split is targeted for the end of 2023.

"Throughout the strategic review process, we received material interest in a whole company sale of NCR, as well as interest in various individual segments of our business. In recent days, it has become increasingly clear to the Board that, given the state of current financing markets, we cannot deliver a whole company transaction that reflects an appropriate and acceptable value for NCR to our shareholders."

NCR is at $22.07 currently. It has traded in the range of $22.04-$45.92 in the last 1 year.