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Posted AT 12:12 PM EST on 13/10/08

United Tech pulls $2.64-billion bid for Diebold

Reuters

BOSTON — — United Technologies Corp. withdrew Monday its $2.64-billion (U.S.) bid for Diebold Inc., the No. 2 maker of automated-teller machines. Shares of Diebold tumbled 16 per cent to their lowest point since United Tech made its unsolicited $40-per-share offer in February. Diebold management had rejected that offer as too low.

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