Bandag settles suit threatening Bridgestone deal

Newswire

CHICAGO, March 27 (Reuters) - Bandag Inc. said on Tuesday it has tentatively agreed to settle a potential class action lawsuit that had threatened the company's $1.05 billion acquisition by Japan's Bridgestone Corp. Bandag, a supplier of retread tires, also said it agreed to pay $610,000 in fees and expenses to the lawyers for the plaintiffs as part of the settlement, pending court approval. Bandag vigorously denied the lawsuit's claims it had failed to solicit other potential bids and ...

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