Buyout shop Thoma Bravo has ended its $9 billion-plus pursuit of ATM-maker NCR, The Post has learned.
“They are pencils down,” said a source with direct knowledge of the situation. “They were back and forth and could not agree on price.”
Now that Bravo has exited, NCR is expected to pull the plug on the auction altogether.
Chicago-based Thoma Bravo was considered NCR’s best bet for finding a buyer after two other private-equity firms, Carlyle and Blackstone, lost interest.
But the Thoma Bravo-led bidding team was not offering much more than the current trading price, the source said. NCR rose 3.6 percent on Wednesday to close at $30.38.
For months NCR has been under pressure from shareholders to boost the share price. Marcato Capital Management called on NCR last year to explore options including a sale. Activist investor Jana Partners also holds a 7 percent stake.
The Duluth, Ga.-based company reported a second-quarter loss of $344 million on Tuesday after reporting a profit in the year-ago quarter.