Waymo, the self-driving unit of Google parent Alphabet, proposed a settlement of $500 million to Uber earlier this week, but the ride-hailing company’s board of directors rejected the deal, according to a report from Reuters, which was confirmed by sources familiar with the case. On Friday, the two companies settled their acrimonious lawsuit over stolen self-driving car secrets. The price tag: a much more reasonable $245 million in Uber stock, and a promise not to use Waymo’s trade secrets in any of Uber’s autonomous technology.

The proposed settlement earlier this week also would have included much harsher conditions on Uber, most likely related to its research and development on autonomous vehicle hardware, according to a source…

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