Monday, July 30, 2007

Union ratifies deal needed for Goodyear unit sale

(Reuters) - The union said local members at four plants accepted the agreement last week and the main union resolved remaining issues with Carlyle over the weekend related to establishing a secure trust for retiree health care.



The contract runs five years and is similar to a deal the union reached with Goodyear before the tiremaker agreed to sell the unit to Carlyle for $1.48 billion. Goodyear has said it expects to complete the sale in the third quarter.


Read more at Reuters.com Mergers News

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