M&A Update: Diebold volatility low, arbitrageurs expect finalized UTX deal

DJIA	-171.63	11,543.55
NASDAQ	-44.12	2,367.52
S&P 500	-17.85	1,282.83

Posted May 20th 2008 2:00PM by Paul Foster
Filed under: Deals, Engagements, Investments

Diebold (NYSE: DBD) is recently down 32 cents to $39.97.

United Technologies (NYSE: UTX) announced on March 3 that it had made a proposal to acquire all outstanding shares of DBD for $40 per share in cash. This afternoon Dow Jones reported UTX's CEO called $40 a share bid for DBD a good offer, and DBD is not a must have.

DBD June option implied volatility of 18 is below its 2-month average 24 of according to Track Data, suggesting decreasing price movement.

M&A Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.

Tags: DBD, Diebold, United Technologies, UnitedTechnologies, UTX

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