Press Digest: Wall Street Journal - May 29

Forward Air (Delaware)

29/05/2024 06:53

May 29 (Reuters) - The following are the top stories in
the Wall Street Journal. Reuters has not verified these stories
and does not vouch for their accuracy.
    
    - Merck  MRK.N  is close to a $1.3 billion deal to buy
Eyebiotech in cash upfront and make an additional $1.7 billion
in milestone payments for the company, which goes by the name
EyeBio.
    
    - Activist investor Irenic Capital Management has built a
stake of nearly 5% in U.S. trucking company Forward Air
 FWRD.O . Irenic privately sent a letter to Forward Air's
directors this month calling for a board shake-up and a
strategic review to consider a range of options including a
sale. 
    
    - Hess  HES.N  shareholders on Tuesday voted to approve a
$53 billion deal to sell the company to Chevron  CVX.N , 
clearing a hurdle for the companies to combine. 
    
    - Adam Neumann has given up on buying WeWork, the bankrupt
shared-workspace company he co-founded and was ousted from five
years ago and said the company looks to be emerging from
bankruptcy with a plan that appears "unrealistic and unlikely to
succeed."
        
  
        - The former chief executive officer of Pioneer Natural
Resources, Scott Sheffield, said U.S. antitrust authorities
smeared him in their move to block him from joining Exxon
Mobil's  XOM.N  board of directors. 
        
  
        - Chinese firms trying to buffer themselves from
Washington's anti-China policies are rebranding and creating
U.S.-domiciled businesses to sell their wares as the Biden
administration expands the government entity lists that restrict
Chinese companies' business dealings in the U.S., say
policymakers and national-security experts.
        
  
        
  

 (Compiled by Bengaluru newsroom)
 ((globalnewsmonitoring@thomsonreuters.com))