News Highlights: Top Company News of the Day

Date : 07/16/2019 @ 3:30AM
Source : Dow Jones News

News Highlights: Top Company News of the Day

Prologis to Buy Warehouse Owner Industrial Property Trust 

Prologis has agreed to buy real-estate investment trust and warehouse owner Industrial Property Trust in a deal valued at $3.99 billion including debt, the company said Monday.

Blackstone Buying Ad-Tech Startup Vungle for About $750 Million 

The deal valued the San Francisco startup at about $750 million, according to a person familiar with the matter. Blackstone is acquiring essentially all of the equity from investors, the person added.

LVMH Buys Minority Stake in Stella McCartney House 

LVMH Möet Hennessy Louis Vuitton bought a minority stake in the British fashion house set up by Stella McCartney, giving the French luxury company a high-profile vehicle to tap growing demand for high-end clothing marketed as sustainable.

AB InBev Might Take Longer to Cut Debt After Pulled IPO of Asia Unit 

Anheuser-Busch InBev's finance chief will likely need more time to bring down the brewer's debt and have less room for mergers and acquisitions after management decided to pull a highly anticipated IPO of a subsidiary, analysts said.

Société Générale Sued Over Seized Cuban Bank 

The lawsuit, filed last week in federal court in Florida, is among the latest since the U.S. lifted the suspension of a provision of the 1996 Helms-Burton Act.

L Brands CEO Les Wexner Says He Didn't Know About Jeffrey Epstein's Behavior 

L Brands founder and longtime CEO Leslie Wexner said he wasn't aware of his former money manager Jeffrey Epstein's alleged criminal behavior, breaking his silence on the matter to say that his "heart goes out to each and every person who has been hurt."

Blackstone Close to Deal to Buy CRH Division 

Global buyout firm Blackstone Group is in advanced talks to buy the European distribution arm of CRH, one of the world's largest building-materials suppliers.

PG&E Makes Thousands of Repairs 

California utility PG&E said it is working to fix nearly 10,000 problems it discovered throughout its electrical system as it steps up efforts to prevent its equipment from sparking more wildfires.

Judge Cuts $55 Million From $80 Million Roundup Verdict 

A federal judge cut down by $55 million a verdict tying Bayer's Roundup weedkiller to cancer, as the company continues to battle thousands of similar claims throughout the U.S.

IKEA to Close Its Only U.S. Factory 

IKEA is closing its only manufacturing site in the U.S., shifting the operations to Europe where the furniture company says production costs are lower.


(END) Dow Jones Newswires

July 15, 2019 23:15 ET (03:15 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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