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United Technologies may drop bid for Diebold
May 20, 2008
The (Hartford, Conn.) Courant:United Technologies Corp. has money to burn, but it might not spend a dime on Ohio ATM maker Diebold Inc., after all. "It's not a must-have," said Louis Chenevert, a chief executive at United Technologies. The company offered to buy Diebold for $40 a share in March, but Diebold rejected the offer, saying it was not high enough. Now UTC says unless Diebold gets it financial filings up to date, it won't pursue its original offer.
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