HARTFORD, Conn., Oct. 13 /PRNewswire-FirstCall/ -- United Technologies
Corp. (NYSE: UTX) today informed Diebold Inc. (NYSE: DBD) by letter of the
withdrawal of its February 29, 2008 acquisition offer. The following is the
letter's complete text.
Mr. John N. Lauer
Chairman
Diebold, Inc.
Dear Mr. Lauer:
We have seen Diebold's financial restatements recently filed with the
SEC and note that you have scheduled your annual meeting for November 12.
In light of your extended refusals of UTC's requests for management
discussions and due diligence, we are withdrawing our offer of February 29
to purchase any and all Diebold common shares at $40 per share. We had
hoped we could negotiate a transaction that would have created substantial
value for both your and our shareholders. It's unfortunate this won't
happen.
Sincerely yours,
George David
Chairman
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United Technologies Corp., based in Hartford, Connecticut, is a
diversified company that provides a broad range of high technology products
and support services to the building systems and aerospace industries.
Contact: John Moran
(860) 728-7062
SOURCE United Technologies Corp.
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Related links:
http://www.utc.com
http://www.prnewswire.com/gh/cnoc/comp/913919.html/
CONTACT:
John Moran, UTC, +1-860-728-7062
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