In Business – 2001-08-01

• Honeywell Inc. (Morris Township, N.J.) and General Electric Co. (Fairfield, Conn.) agreed July 17 to waive some operational restrictions of their existing merger agreement to allow each other to conduct employment-related activities, purchase or sell assets, and issue or acquire securities. This waiver will allow them to function prior to any termination of the agreement without violating the agreement’s terms. European government regulators halted the proposed $41 billion merger several weeks ago.

• Microsoft Corp. (Redmond, Wa.) reported July 20 that it’s asking the U.S. District Court of Appeals (Washington, D.C.) to reevaluate part of a recent ruling, before allowing a request by the U.S. Justice Department and 18 states to quickly move the long-running antitrust case against Microsoft back to a lower court. The case had been expected to return before a U.S. District Court judge by the middle of August 2001. This follows a June 28 appeals court ruling, which overturned a lower court ruling that Microsoft be broken into two firms, despite the court’s determination of monopolistic abuses of PC operating system markets.

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