Wall Street Journal - May 29
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)
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