HARTFORD, Conn. (AP) -- United Technologies Corp. has dropped its $2.6 billion bid to buy ATM manufacturer Diebold Inc.
The Hartford-based owner of Otis elevator and Sikorsky Aircraft says Diebold has refused its requests for financial information. George David, chairman of United Technologies, tells Diebold Chairman John Lauer in a letter Monday that United Technologies is abandoning its bid.
United Technologies offered $40 a share on Feb. 29 to buy Diebold, seeking to broaden its security business and expand into China. Diebold rejected the offer immediately.
A request seeking comment was left with a spokesman at Diebold in North Canton, Ohio.