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United Tech Bids $2.6B for Diebold

Posted by ryuzaki0 on from the how-much-does-an-election-cost dept.

zhang1983 writes "United Technologies, parent company of jet engine-maker Pratt & Whitney, Otis elevator and Sikorsky Aircraft, said it made the unsolicited offer to Diebold for $2.63 billion on Friday after trying to negotiate a deal for two years. United Technologies said the company announced the offer Sunday night because executives believe their offer is "so compelling we thought shareholders should know about it.""

2 of 129 comments (clear)

  1. Shady elections are one thing... by NotQuiteReal · · Score: 3, Interesting
    but the real money is in stocks

    I'm not saying anyone did, but an insider would be up 65% plus on the buyout bid news this morning...

    --
    This issue is a bit more complicated than you think.
  2. Hostile Takeover by deacent · · Score: 4, Interesting

    I actually read about this in my local paper Hartford Courant this morning. I don't think the CNN article really does a good job indicating the "hostile" in this hostile takeover. Note the part where Laurer directed UTC not to have further contact with board members.

    My impression is that UTC has been getting more heavily into security over the last several years and they are probably more interested the ATM/check machine aspect of Diebold, in spite of Diebold's entanglements with voting machines.