News Highlights: Top Company News of the Day
January 22 2018 - 9:15AM
Dow Jones News
AIG Strikes $5.56 Billion Deal to Acquire a Bermuda Insurer
American International Group is acquiring Bermuda-based insurer
Validus Holdings for $5.56 billion, as its new chief executive
makes good on a promise to reverse nearly a decade of shrinkage
stemming from its near collapse in 2008.
Dan Loeb's Third Point Calls for More Change at Nestlé
Activist investor Dan Loeb's Third Point is keeping pressure on
Nestlé, saying the giant consumer company needs to do more to
realign its portfolio, including getting out of its stake in
cosmetics giant L'Oréal.
Celgene to Buy Juno Therapeutics for $9 Billion
Celgene said it agreed to buy Juno Therapeutics for $87 a share
in cash, or about $9 billion, in a move that will expand Celgene's
portfolio of blood-cancer drugs.
Sanofi to Buy Hemophilia Drugmaker Bioverativ for Over $11.5 Billion
Sanofi said it would buy hemophilia drugmaker Bioverativ for
more than $11.5 billion, as the French drugmaker looks to clinch a
big deal while it braces for generic competition for its
top-selling product.
With Online Luxury in Vogue, Richemont Snaps Up Yoox Net-a-Porter
Richemont said it would spend up to $3.3 billon buying the
shares it doesn't already own in Yoox Net-a-Porter, one of the
fashion world's most disruptive e-commerce companies, a sign of how
the shift to online shopping is spreading to even the most
expensive and exclusive purchases.
Bank of America: No More Free Checking for Customers With Low Balances
Bank of America has eliminated a free checking account popular
with some lower-income customers, requiring them to keep more money
at the bank to avoid a monthly fee.
Another Bank Posts Hit From U.S. Tax Reform-This Time It's UBS
Charges related to the corporate tax overhaul pushed UBS into a
fourth-quarter loss, making it the latest bank to take a short-term
hit from the recently enacted legislation.
Philadelphia Energy Solutions Puts Refinery Operation Into Bankruptcy
Philadelphia Energy Solutions affiliates responsible for more
than one-quarter of the crude-oil refining capacity on the East
Coast of the U.S.. filed for bankruptcy protection, amid
"industrywide turmoil" driven by politics and economics.
Can New Flavors Reverse Diet Coke's Slump?
Coca-Cola Co. hopes four new flavors of Diet Coke and skinnier,
redesigned cans hitting U.S. shelves this week will lure back
lapsed soda drinkers and young people who have moved on to LaCroix
sparkling waters.
Icahn, Deason Push for Xerox to Explore Sale
Two large Xerox investors, billionaires Carl Icahn and Darwin
Deason, have formed an alliance and plan to encourage the printer
and copier giant to explore a potential sale.
(END) Dow Jones Newswires
January 22, 2018 09:00 ET (14:00 GMT)
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