TriQuint Semiconductor Inc. has acquired Sawtek Inc. in a $1.3 billion stock deal. Sawtek, based in Apopka, Fla., will operate as a wholly owned subsidiary and continue making electronic signal-processing components and other products under its own name. TriQuint, based in Hillsboro, Ore., makes gallium-arsenide chips that power cellphones, fiber-optic cable systems, and satellites.
Zamias Services Inc., one of the largest owners and managers of malls and shopping centers in the US, filed for Chapter 11 bankruptcy protection. The Johnstown, Pa.. firm has holdings in 12 states.
Software maker Hyperion Solutions Inc. announced it will cut about 400 jobs. The Sunnyvale, Calif., company also said it would scale back discretionary spending, restrict business travel, and freeze hiring.
Another 24-hour strike, the second on consecutive Thursdays, appears set for today by pilots of Lufthansa, the German airline. Their union, Vereinigung Cockpit, and the carrier broke off negotiations over a new contract, reportedly 20 percent apart on a pay increase. Last week's walkout grounded more than 900 scheduled flights, affecting tens of thousands of passengers.
The 42 percent stake held by SBC Communications of the US in TeleDanmark is being sought by neighboring Norway's Telenor, the Financial Times reported. The newspaper said any deal would be valued at about $16 billion. Telenor, which confirmed it is in negotiations with the Danish communications provider, twice failed to merge with Sweden's Telia in the late 1990s.
(c) Copyright 2001. The Christian Science Monitor