The Globe and Mail reports in its Monday edition that union members who assemble Boeing's fighter jets in the St. Louis area have "overwhelmingly voted" to reject the company's contract offer on Sunday, with the company now preparing for an imminent strike. A Reuters dispatch to The Globe says Boeing's proposal, which was sent on Tuesday to more than 3,200 members of the International Association of Machinists and Aerospace Workers (IAM) district 837, included a 20-per-cent general wage increase over four years and a $5,000 (U.S.) ratification bonus, as well as more vacation time and sick leave. "The proposal from Boeing Defense fell short of addressing the priorities and sacrifices of the skilled IAM Union work force," the IAM union said. Dan Gillian, Boeing's senior St. Louis site executive, said in a statement to Reuters that it is disappointed Boeing employees voted down "the richest contract offer we've ever presented to IAM 837 which addressed all their stated priorities." The current contract expires on Sunday after which there is a seven-day cooling-off period before a strike would begin, the union added. Boeing's Canadian-traded shares closed Friday at $39.70, up 25 cents on Cboe Canada.