HARTFORD, Conn., July 10 /PRNewswire-FirstCall/--
United Technologies Corp. (NYSE: UTX) today announced it has extended its
offer to acquire Chubb plc shares until 3 p.m. July 28, London time.
The previous deadline for Chubb shareholders to tender their shares to
United Technologies expired July 9, by which date approximately 40 percent of
the shares outstanding had been tendered. In addition, UTC has purchased
approximately 5 percent of the shares outstanding and accordingly has acquired
or received acceptances representing approximately 45 percent of outstanding
shares.
UTC also affirmed its final offer price of 75 pence per share, totaling
about $1.0 billion, for the U.K.-based Chubb.
UTC's offer is subject to customary conditions including acceptance of the
offer by Chubb shareholders owning at least 90 percent of the shares
outstanding, approvals by all relevant regulatory agencies, and compliance
with required filing and other regulations. The companies expect the
transaction to close in the third quarter. Further information including the
offer document is available on UTC's Web site at http://www.utc.com.
This announcement does not constitute an offer to sell or invitation to
purchase any securities or the solicitation of any offer to buy any
securities, pursuant to the offer or otherwise. The offer will be made solely
by the offer document and the related form of acceptance accompanying the
offer document, which will contain the full terms and conditions of the offer,
including details of how the offer may be accepted.
London-based Chubb provides electronic security and fire protection
products and services. UTC, based in Hartford, Conn., provides high
technology products and services to the building systems and aerospace
industries.
Contact:
Paul Jackson
(860) 728-7912
http://www.utc.com
SOURCE United Technologies Corp.
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Related links:
http://www.utc.com
Company News On-Call:
http://www.prnewswire.com/comp/913919.html
CONTACT:
Paul Jackson of United Technologies Corp.,
+1-860-728-7912
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