Business Services Industry
United Technologies seals deal for fire-safety device firm.
Knight Ridder/Tribune Business News, December, 2004
By Michael Remez, The Hartford Courant, Conn. Knight Ridder/Tribune Business News
Dec. 17--United Technologies Corp. has reached an agreement to buy Kidde PLC, the British maker of fire protection equipment, in a deal valued at about $2.8 billion, the companies announced Thursday.
Acquiring Kidde would help UTC build the security systems business it entered last year when it bought Chubb PLC, which was once part of the same British conglomerate as Kidde.
With fire suppression products for airplanes, buildings and factories, Kidde's offerings complement UTC's aerospace and building services businesses.
In the deal Kidde directors will bring to shareholders, UTC agreed to pay 165 pence per share of Kidde, plus a 2 pence special...
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