The United Technologies Corporation made public on Sunday an unsolicited $3 billion bid for Diebold, one of the largest makers of automated teller machines and voting machines.
United Technologies, which first approached Diebold two years ago, initially made the offer in private on Friday. The bid amounts to $40 a share in cash, or a 66 percent premium over Diebold's closing price on Friday of $24.12, United Technologies said.
Several unsolicited or hostile offers have been made this year despite an overall slowdown in deal-making activity. Among companies making unfriendly advances are Microsoft, which is pursuing the wounded Internet giant Yahoo, and Electronic Arts, which made a bid for Take-Two Interactive, the maker of the Grand Theft Auto video games.NYT