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Software firm NCR Corp. (NYSE:NCR) is in discussions to be sold to Veritas Capital, a private equity firm, according to a report by The Wall Street Journal on Tuesday, citing sources familiar with the matter.
The report states any deal could still be weeks away, but it would be “one of the biggest leveraged buyouts as the environment for such deals has become more perilous.”
However, there is no guarantee any deal will go through, mainly due to the current market environment, which has scuppered other LBOs recently.
The WSJ wrote that if a deal were to go through, it would be one of a few large LBOs sealed in recent months with rising interest rates increasing the cost of deal financing.
Other companies such as Kohl’s (NYSE:KSS) and Walgreens Boots Alliance (NASDAQ:WBA) have failed to strike deals recently due to challenges in the market.
NCR, which has a market cap of over $4 billion, launched a strategic review process in February, attracting interest from private-equity firms.
The company’s shares jumped over 8% in early Tuesday trading.
