Takeover Bid Adds Up for Diebold

After Diebold rejects a $3 billion bid, United Technologies may launch a tender offer. But some analysts doubt the benefits of a deal

United Technologies (UTX) got tired of being rebuffed by the chairman of Diebold's (DBD) board and on Feb. 29 made an unsolicited offer to purchase all of Diebold's outstanding shares for $40 per share, or about $3.0 billion. Diebold's board met Monday morning and rejected the proposal, saying it significantly undervalues the company and doesn’t recognize Diebold’s growth potential.

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