Cardtronics surges on buyout offer from Apollo, Hudson

Cardtronics shares surged on Wednesday after the US ATM operator said it had received a $31.00 per share in cash buyout offer from funds managed by affiliates of Apollo Global Management and Hudson Executive Capital.

In a brief statement, Cardtronics said: "No specific timetable has been set and there can be no assurances that the review of this proposal will result in the consummation of any agreement or transaction.

"The company does not intend to make any further public comments regarding this matter unless and until the Cardtronics board of directors approves a specific course of action or has otherwise determined that further disclosure is appropriate or required by applicable law."

At 1410 GMT, the shares were up 23% in pre-market trade at $31.75.