UTC and Chubb Talk Takeover
HARTFORD, Conn.
Discussions reportedly have heated up again between United
Technologies Corp. (UTC) and Chubb PLC, a British security
firm that provides electronic security, fire protection,
guards and hotel locks. According to Knight Ridder/Tribune
Business News, the two companies are closer to an
agreement, whereby UTC would purchase Chubb.
According to Jack Mallon, managing director of Mallon
Capital, “It would bring another new giant corporate player
into the U.S. security scene.” He added that acquiring
Chubb would not make UTC a major force in the U.S. security
business overnight, but could give the conglomerate a
platform to build on as ADT, a unit of Tyco Int’l,
overcomes accounting problems, increased costs and high
disconnection rates.
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