United Technologies May Withdraw Unsolicited Diebold Offer

Published May 27, 2008, 1:00 a.m. EDT

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Updated May 27, 2008, 12:00 a.m. EDT

1 Min Read

United Technologies Corp., which made an unsolicited $2.66 billion bid for Diebold Inc., may withdraw its offer if it does not receive more financial information from Diebold. "We'll not buy that property without appropriate due diligence," Louis Chenevert, Hartford, Conn.-based United Technologies' new CEO, told analysts last week. Diebold, which is based in North Canton, Ohio, rejected United Technologies' offer, complaining that it was too low. Diebold is the world's second-largest ATM maker based on machines shipped in 2006.

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