United Technologies In $3 Billion Bid For Diebold

United Technologies In $3 Billion Bid For Diebold

The United Technologies Corporation made public on Sunday an unsolicited $3-billion bid for Diebold, one of the largest makers of automated teller machines and voting machines.

United Technologies, which first approached Diebold two years ago, initially made the $3 billion offer in private on Friday. The bid is $40 a share in cash, or a 66 percent premium over Diebold's Friday closing price of $24.12, United Technologies said.

Several unsolicited or hostile offers have been made this year despite an overall slowdown in deal-making activity. Among companies making unfriendly advances are Microsoft, which is pursuing the wounded Internet giant Yahoo, and Electronic Arts, which made a bid for Take-Two Interactive, the maker of the Grand Theft Auto series of video games.

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