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PRESS DIGEST- Wall Street Journal - Sept 6
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PRESS DIGEST- Wall Street Journal - Sept 6
Sep 6, 2024 1:26 PM

Sept 6 (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.

- Seven & i Holdings ( SVNDF ) has rejected an offer by

Canada's Alimentation Couche-Tard ( ANCTF ), saying that the near

$39 billion deal undervalued the 7-Eleven convenience store

operator.

- Republican presidential candidate Donald Trump outlined a

suite of economic proposals in a speech on Thursday, including

formally introducing a government efficiency commission to be

headed by billionaire Elon Musk, cutting the corporate tax rate

to 15% for companies that make products in the U.S. and creating

a sovereign-wealth fund.

- Cleveland-Cliffs ( CLF ) came out in support of U.S.

President Joe Biden's reported decision to block the $14.1

billion acquisition of U.S. Steel by Japan's Nippon Steel ( NISTF )

and said it would be open to acquiring assets from its

rival steelmaker.

- Salesforce ( CRM ) agreed to buy Own Company, a data

protection and data management business, for about $1.9 billion

in cash, net of the value of the roughly 10% stake currently

owned by Salesforce ( CRM ).

- Bank of America ( BAC ) is investigating allegations

that bankers in Asia shared nonpublic information with investors

before the bank sold hundreds of millions of dollars worth of

stock.

- Red Lobster's parent company said Thursday that it has

received court approval for its Chapter 11 bankruptcy plan,

under which the chain would be sold to funds managed by

affiliates of Fortress Investment Group, as well as co-investors

TCW Private Credit and Blue Torch Capital.

(Compiled by Bengaluru newsroom)

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