Wall Street Journal - Aug. 14
Aug 14 (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.
- Elliott Investment Management said it plans to launch a proxy fight at Southwest Airlines LUV.N and plans to nominate 10 director candidates to Southwest's 15-person board, including David Cush, the former CEO of Virgin America and Robert Milton, the former CEO of Air Canada.
- Mars is expected to unveil a nearly $30 billion deal for foodmaker KellanovaK.N on Wednesday. The privately held Mars is expected to $pay 83.50 a share for Kellanova in the all-cash deal.
- Starbucks SBUX.O has appointed current Chipotle Mexican Grill CMG.N chief Brian Niccol as its next leader, an abrupt management change for the coffee chain as it works to turn around its business and contend with activist investors. Niccol would start as chief executive and executive chairman of its board on Sept. 9.
- Tilray Brands TLRY.O is adding to its craft beer portfolio with the acquisition of four U.S. beer brands from Molson Coors Beverage TAP.N. The financial terms of the deal, expected to close this month, were not disclosed.
- Paramount Global is restructuring its TV-production business as part of a cost-cutting effort. Paramount said that Paramount Television Studios was shutting down at the end of the week, and that its sister TV unit—CBS Studios—would absorb the production of Paramount shows as a result of the move.
- The United Auto Workers filed federal labor charges against former President Donald Trump and Tesla TSLA.O CEO Elon Musk, alleging they attempted to intimidate workers during their conversation on Musk's social-media platform X.
(Compiled by Bengaluru newsroom)
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