Diebold Stock Soars After $3 Billion Takeover Bid by Defense Contractor Conglomerate United Technologies
UTC Chairman Says Irresponsibile Republican Voting Machine Company an 'Excellent Fit', in Letter Explaining Hostile Offer, Twice Rejected by Diebold...
Prices for Diebold stock shares are soaring out of the 7-year basement this morning, where they'd been sitting for the past several months since a coordinated insider sell-off by a dozen or so officers on the very same day last August when the stock had been near it's 52-week high at $53.04/share. Within days after the sell-off, the company renamed its humiliated Diebold Elections Division to call it Premier Election Solutions, and the stock had been falling, some 50% in total ever since. Until today.
Yesterday, the New York Times reported a hostile $3 billion take-over attempt of the entire company by defense contractor conglomerate United Technologies Corp. (UTC).
As of 2pm ET today, much-investigated, much-beleagured, much-failing Diebold's share price has soared some 60% to more than $38/share from it's previous $23 low.
Diebold's board had unanimously rejected a similar offer from UTC two years ago, and the company once again rebuffed a private offer in February, requesting that United Technologies "refrain from contacting any of its directors." Over the weekend, UTC went public with their offer which has both Wall Street, and Election Integrity advocates abuzz with the implications...
COMPLETE COVERAGE: http://www.bradblog.com/?p=5759