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Show FA ‘The Salt Lake Tribune BUSINESS BUSINESS GLANCE Zanderas its new chairman and chief executiveofficer Tuesday, staking its future on an outsider after a three-month searchto replace Christopher Galvin, the grandson of the company’s founder. Zander was the unanimous choice of Motorola’s board ofdirectors in a Sunday night vote andwill take over his new job Jan. 5. He had stepped down fromhis Sun job last year and became a managing directorat Silver Lake Partners, a private equity firm with offices in Menlo Park, Calif., and New York. Shareholdersettlement with Sprint approved A fed KANSAS CITY, Kan. eral judge on Tuesday approved a $50 million settlement between Sprint Corp. and shareholders whosued over its derailed merger with WorldComInc U.S. District Judge Carlos Murguia ruledthe settlement was “fair, reasonable and ade quate.” The settlement also must be approved in Jackson County, Mo., Circuit Court The agreement covers share holders who bought Sprint stock FromTribune wire services The deal announced Tuesday includes the global brands that include Boost and Isocal, trademarks,patents andintellectual property assets of the business, Novartis said. Sales of the products covered by the deal were more than $220 million in 2002. Mead Johnson, a subsidiary of Bristol-Myers Squibb,is a leader in medical nutrition. Its leading adult brand, Boost, is a nutritional drink.It also produces Isocal, a tube-feedingformula used for patients with conditions such as cancer, anorexia or stroke. The deal cameas a surprise between October 1999 and Sep tember2000 and suffered a loss Novartis will purchase as a result Mead Johnson & Co. Former Sun executive BASEL, Switzerland Swiss pharmaceutical giant Novartis plans to buy the adult medical nutrition business of Mead Johnson & Co. for $385 million in cash. will lead Motorola CHICAGO Motorola named former Sun Microsys tems executive Edward J. Wednesday, December 17,2003 to analysts, whosaid they were concerned that medical nutrition is not part of Novartis’ core business and that the Mead Johnson business is low-margin. Mead Johnson, based in Evansville, Ind., will continue to manufacture and supply the majority of the products, Novartis said. the euro’s surge has pushed it more than 17 percent higher against the U.S. currency, amid stubborn concerns overthe U.S. budget andtrade deficits, which crative northern New Jersey market, North Fork Bancorp has agreed to buy The Trust Company of New Jersey, that economists say can undermine a $726 millionin stock. state’s fourth-largest bank, for Trust Co., which is based in country’s currency. But Dorothea Huttanus, an analyst at Dresdner Bank in Frankfurt, sees the euro’s climb as a self-perpetuating upward spiral sustained by thin yearend trading that she predicts will not last into 2004. “The dollar is actually a much more solid currency than the euro could ever be,” Huttanus said, noting that despite the US. deficit, enough positive signals are coming outof the United States to drive the euro back down next year. Euro continues Its rise against the U.S.dollar NEW YORK Thedoilarfell to a new low against the euro on Tuesday, amid persisting worries about the overall health of the U.S. economy. The euro was quoted at $1.2320 in late European trading up from Monday’s $1.2284 record close. In late New York trading, the euro was quoted at Jersey City, has $4.3 billion in assets and 93 branches throughout northern and central New Jersey. North Fork, based in Melville on LongIsland, had assets of $20.47 billion in 2002 and has 154 bank branches. Underthe agreement, expected to close in the spring, North Fork will exchange one of its shares for each Trust Co. share. Theoffer valued Trust Co.at $37.65 a share, or a premium of about 6 percent to Trust Co.’s Mondayclosing stock price of North Fork Bancorp will buy N.J. bank $1.2338, up from $1.2299 late Monday. Overthe past several months, $35.50. 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