Takeover Bid for ATM Maker Diebold

Published March 03, 2008, 7:47 a.m. EST

Updated August 27, 2020, 1:22 a.m. EDT

1 Min Read

NORTH CANTON, Ohio -- United Technologies Corp. offered to acquire Diebold Inc., the world's largest ATM manufacturer, for $40 a share, or $2.6 billion. The offer represents a 66% premium over Diebold's closing share price Friday of $24.12.

Processing Content

Diebold has been troubled in recent years by its foray into electronic voting machines, and its stock price has fallen by half over the past year.

UTC, which informally approached Diebold two years ago, made its latest bid public yesterday after the Diebold rejected the offer Friday.

MORE FROM AMERICAN BANKER

Mobile banking

U.S. Bank tops mobile banking ranks for third straight year

The bank was determined, by multiple industry rankings and experts, to be the best mobile banking provider in the U.S.. Bank of America took second place.

By Melinda Lucy
Tech Reporter

11h ago
Professional development

Why potential RIA successors walk away — and how to keep them

Succession planning experts say that the possible next generation of RIA owners need clear communication, tangible career paths and thoughtful compensation plans. But that is often easier said than done.

By Tobias Salinger
Chief Correspondent

September 23
Payments

Canada's biggest banks team up on tokenized deposits

The move came 12 days after Canada's bank regulator said tokenized deposits are not legally distinct from ordinary deposits.

By Carter Pape
Technology Reporter

September 23
Agentic Commerce

Are banks falling behind on agentic commerce standards?

Bank of America, Capital One and other large banks have teamed up to publish a set of principles for agentic commerce. But the call for a set of standards from banks comes as other fintechs and payment companies are already forging ahead with the technology.

By Joey Pizzolato
Reporter

September 23
M&A

Texas bank looks to grow in NM by buying Albuquerque lender

WestStar Bank of El Paso is acquiring Albuquerque's Southwest Capital Bank, bringing it six new branches in New Mexico.

By Nathan Place
National Reporter

September 23
Economy

Bank economists see continued growth, persistent inflation

The U.S. economy is expected to keep growing despite nagging inflation, according to the latest consensus report from the American Bankers Association's Economic Advisory Committee.

By Allissa Kline
Reporter

September 23