Gillette Co. reported the settlement of 16...

Gillette Co. reported the settlement of 16 lawsuits brought against the company in 1986 by Revlon Group after Revlon abandoned efforts to gain control of Gillette. The pact, subject to federal court review, requires Boston-based Gillette’s non-employee directors to fully evaluate all takeover proposals and stock repurchase agreements for the next three years. The directors must also obtain advice from financial experts on takeover bids and make certain public statements about them. The firm is now under takeover pressure from Coniston Partners.