Cardtronics shares soar 26% premarket on news of buyout offer from Apollo and Hudson

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Cardtronics Plc shares
CATM,
-1.15%

soared 26% in premarket trade Wednesday, after the company, which operates and serves ATM networks, confirmed it has received a buyout offer from Apollo Global Management, Inc. and Hudson Executive Capital LP for $31 a share in cash. Board member Douglas Braunstein, who is founder and managing partner of Hudson, has recused himself from discussions, leaving the other directors to review and assess the terms of the offer. There is no specific timetable set for any potential transaction. Shares have fallen 42% in the year to date, while the S&P 500
SPX,
+0.28%

has gained 14.6%.



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