UPDATE 1-BorgWarner, Honewell settle dispute; stocks slide

Newswire

(Recasts, changes dateline previous CHICAGO, adds stock activity) NEW YORK, June 23 (Reuters) - Auto parts maker BorgWarner Inc. on Monday said it settled a patent dispute with Honeywell International Inc. for $29.1 million. Shares of both companies slid following the announcement. BorgWarner, based in Chicago, said in a statement its turbo systems unit settled a dispute with Morris Township, New Jersey-based Honeywell over variable geometry turbochargers by extending a licensing ...

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