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Diebold Chairman Rebukes United Tech Offer
Companies:Diebold, Incorporated | United Technologies Corp
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The chairman of Diebold told United Technologies in an open letter Wednesday that by making an unsolicited $2.64 billion offer, the diversified U.S. manufacturer "is opportunistically seeking value that belongs to Diebold shareholders."
The letter, signed by John Lauer, nonexecutive chairman of the world's No. 2 maker of automated teller machines, noted that United Tech's [UTX
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] $40-per-share offer is 27 percent below Diebold's [DBD
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] 52-week high of $54.50 reached in August.
Copyright 2009 Reuters. Click for restrictions.
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TOPIC : Information Technology
TOPIC : Mergers & Acquisitions
COMPANY : Diebold, Incorporated
COMPANY : United Technologies Corp
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