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Takeover bid for Diebold dropped

October 14, 2008|From Times Wire Services

United Technologies Corp. dropped its $2.6-billion bid to buy automated teller machine maker Diebold Inc., saying the target company had refused requests for financial information.

United Technologies, which owns Sikorsky Aircraft, Otis elevator and other businesses, made its offer in February in an effort to broaden its security business and expand into China. Diebold rejected the offer immediately.

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