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UTC reaffirms Diebold bid

Source: United Technologies Corporation

United Technologies Corporation (NYSE:UTX) today issued the following statement regarding its offer to Diebold Inc.'s (NYSE:DBD) Board of Directors:

United Technologies Corporation remains committed to its offer. Diebold's financial and stock performance and the inability of Diebold's leadership to file timely financial statements are not valid reasons to avoid a dialogue with UTC.

UTC reaffirms its proposal to purchase the outstanding shares of Diebold for $40 per share cash, a 66% premium to Diebold's closing stock price on February 29th. UTC remains ready to discuss its proposal with the Diebold Board of Directors. UTC's management team, and financial and legal advisors are available to meet with Diebold and begin due diligence immediately.