Carrier Corp., a wholly-owned subsidiary of United Technologies Corp., signed an agreement to buy International Comfort Products for $11.75 per share in cash.
Carrier Corp., a wholly owned subsidiary of United Technologies Corp., announced that it signed an agreement to buy International Comfort Products Corp. for $11.75 per share in cash.
United Technologies began a tender offer on June 30 for all the outstanding shares of ICP's common stock. Ravine Partners, an affiliate of Dallas-based SnyderCapital Corp., and the Ontario Teachers' Pension Plan Board have agreed to tender their shares and support the deal. They hold about 40% of International Comfort's stock.