Bombardier awarded $209 million settlement from DaimlerChrysler

Bombardier Inc. will get a $209 million reduction in the price it paid DaimlerChrysler AG in 2001 to purchase Adtranz, the company's rail equipment division.

The amount is a 30% reduction on the original $725 million price tag, but far below the damages of more than $1 billion that Bombardier had claimed in lawsuits.

The negotiated settlement puts an end to arbitration between the two companies, which had been filed with the International Chamber of Commerce in Paris.

A year after acquiring Adtranz, Bombardier filed a suit, claiming it had discovered undisclosed costs required to complete its contracts.