Leaders of the union representing 11,100 pilots at Northwest Airlines and Delta Air Lines reached an agreement on consolidating the two...

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Microsoft is not privately haggling with Yahoo over its rejected $31-a-share buyout offer for the slumping Internet pioneer, Chairman Bill Gates said Monday in a phone interview.

“We sent them a letter and said we think that’s a fair offer. There’s nothing that’s gone on other than us stating that we think it’s a fair offer,” he said. “They should take a hard look at it.”

Microsoft’s unsolicited offer for Yahoo, made Feb. 1, was valued at $44.6 billion. Since then, Microsoft’s stock has tumbled 12.8 percent, pushing the value of the cash-and-stock offer closer to $41 billion.

ILFC

Boeing, Airbus may supply 286 jets

International Lease Finance Corp., the world’s largest aircraft-leasing company, said it’s in talks with Boeing and Airbus to buy at least 286 planes on growing demand from Asia.

It may order 150 Airbus A320s and 10 Airbus A350XWB, Chief Executive Steven Udvar-Hazy said in Singapore today. The company also may buy more than 100 Boeing 737- 800s and 26 Boeing 787s, he said.

Delta, Northwest

Pilots strike deal; big step to merger

Leaders of the union representing 11,100 pilots at Northwest Airlines and Delta Air Lines reached an agreement on consolidating the two groups under a merged carrier, sources close to the matter said Monday.

The deal outlines terms for merging pilots’ seniority lists, as well as calls for a pilots’ representative on the board and an equity stake in the merged airline.

Meanwhile, The New York Times reported that the Northwest and Delta boards had called emergency meetings for today. Both airlines had wanted the pilots to work out a deal before an official consolidation announcement was made.

If Delta and Northwest agree to merge, officials of the pilots union would then present their plan to the memberships for a vote. If it isn’t ratified, a deal would have to be reached through binding arbitration.

Weyerhaeuser

Canadian mill to close in May

Weyerhaeuser said it will close its Canadian Kamloops sawmill May 12, affecting 196 employees.

The decision was accelerated by “continuing challenging markets in the U.S. and the rising Canadian dollar,” Bob Taylor, general manager of Weyerhaeuser’s British Columbia operations, said in a statement.

The mill’s wood supply will be directed to other British Columbia sawmills.

RIM / Motorola

Companies sue over patents

Motorola and BlackBerry maker Research In Motion (RIM) on Saturday sued one another in federal courts over mobile-phone patents, each claiming its competitor is using handset technology without permission.

Motorola filed its suit in Marshall, Texas, while RIM sued in Dallas.

Compiled from The Detroit News, The Associated Press and Bloomberg News