Rumors have raged for months of a possible takeover of weakened ATM machine producer Wincor Nixorf, about approaches by a U.S. financial investor or talks with competitors.
Talk turned mid-week to another takeover approach by U.S. competitor Diebold, the world’s third-largest maker of cash machines. Wincor Nixdorf shares jumped as much 13 percent on Wednesday on speculation of a takeover of the number two on the market by Diebold.
Eckard Heidloff, Wincor’s chief executive, nipped the rumors in the bud.
“There haven’t been any talks about a merger or takeover,” he told Handelsblatt on Thursday. “There hasn’t been a takeover offer. We in management don’t think this is the right path.”
Mr. Heidloff, however, did not rule out closer partnerships with competitors such as Diebold. “We’re already cooperating and exchanging components, for example,” he said. “And that’s something our industry still has to learn to do better.”