HARTFORD, Conn. – United Technologies Corp. said it has acquired a 3.5% stake in Diebold Inc., even after the ATM manufacturer rejected the company’s takeover offer.
Processing Content
Earlier last month UTC offered to acquire Diebold for $40 a share, but the ATM maker dismissed the bid as inadequate.
In the meantime, Diebold said it has been threatened with delisting by the New York Stock Exchange because it has yet to file its quarterly and annual financial statements for last year. UTC urged Diebold to act while the NYSE delisting is under consideration.
Diebold shares closed yesterday at $37.56, a 6% discount to the UTC offer.
