BUSINESS BRIEFS
UAW sets Wed. strike deadline
Associated Press
DETROIT — The United Auto Workers has set a deadline of 11 a.m. tomorrow to agree on a new contract with Chrysler LLC or workers could strike.
The deadline, confirmed by Chrysler spokeswoman Michele Tinson, gives negotiators less than 48 hours until a strike could be called. Bargainers returned to the table yesterday morning after spending most of the weekend in negotiations.
VONAGE SETTLES SUIT WITH SPRINT
NEW YORK — The beaten-down shares of Vonage Holdings Corp. more than doubled in value yesterday after the Internet phone company said it had settled a patent suit filed by Sprint Nextel Corp. The shares gained $1.42 to close at $2.57.
On Sept. 25, a jury found that Vonage infringed on six Sprint patents, and ordered Vonage to pay $69.5 million in damages. The settlement yesterday resolves all claims in that suit for $80 million, the companies said.
THOMSON OFFER UNDER SCRUTINY
BRUSSELS, Belgium — Thomson Corp.'s $18.4 billion offer for Reuters will face an in-depth inquiry by EU antitrust regulators who worry the deal could harm competition in the financial information industry, the European Commission said yesterday.
The EU's executive arm said that its initial investigation saw problems with the combination because both companies supply data feeds to traders, control news services and have access to broker research reports.
TEXTRON BUYING UNITED INDUSTRIAL
PROVIDENCE, R.I. — Textron Inc. is buying United Industrial Corp. in a $1.1 billion deal that underscores its expectations for U.S. military reliance on unmanned aircraft.
The deal announced yesterday would help Textron expand its aerospace and defense business.
