Tyco international said it would buy Raychem Corp., a California electronic-components maker, in a deal valued at $2.87 billion. The acquisition will give Tyco - a Bermuda-based electronics company - about $9.3 billion in annual sales and a leading position from which to market electronics to telecommunications, automotive, and other industries, a company official said.
Legislation to protect companies against lawsuits because
of 2000-related computer failures stalled in the US Senate. A procedural motion by majority leader Trent Lott (R) of Mississippi to take up the computer bill was defeated by Democrats seeking more time to debate gun control. Lott said the measure - which would delay the filing of such litigation until after a 90-day cooling-off period and make it harder for consumers to sue at all - might be revived later.