News Highlights: Top Company News of the Day

03/08/18 05:15 PM EST
Cigna Agrees to Buy Express Scripts for More Than $50 Billion 

Cigna plans to buy Express Scripts in a cash-and-stock deal worth $52 billion that the companies say will expand their health-care offerings and help them control costs.

Kroger Shares Drop as Battle With Amazon Cuts Into Profits 

Kroger shares dropped 12% as the grocery-store chain said investments in online operations that aim to compete with Walmart and Amazon are cutting into profit.

Disney Shareholders Don't Endorse Compensation Plan for CEO Iger 

In a rare rebuke of Walt Disney leadership, shareholders voted down a nonbinding endorsement of Robert Iger's compensation plans, which could balloon well over $100 million under a recent contract extension.

Merrill Lynch Settles SEC Claims Over Sale of Chinese Company's Shares 

Merrill Lynch unit agreed to pay $1.4 million to settle SEC allegations that it didn't do enough to investigate red flags at a Chinese company whose unregistered securities it sold.

Hess Wins Peace With Activist Investor 

Hess said it would buy back an additional $1 billion in shares, heading off a potentially nasty proxy fight with activist hedge fund Elliott Management.

Uber Near Deal to Exit Southeast Asia for Stake in Rival Grab 

Uber is in advanced talks to turn over most of its Southeast Asia operations to local rival Grab, ending a costly fight for market share in the fast-growing region.

Soured Lehman Mortgage Claims Valued at $2.4 Billion 

Lehman Brothers caused $2.4 billion in damages to investors holding securities backed by shaky home mortgages, a New York bankruptcy judge ruled Thursday.

Texas Regulators Approve Sempra's $9.45 Billion Oncor Buyout 

Texas regulators that killed two earlier deals for a major piece of the state's power infrastructure, Oncor, Thursday gave the nod to Sempra Energy's $9.45 billion deal for a majority stake.

Snap's Nip and Tuck 

Snapchat's parent plans layoffs as growth slows. But the main question remains whether its young service has true long-term potential or is a fad that will burn out as fickle teens move on.

Free Credit Freezes Coming for All U.S. Consumers 

Consumers are on track to get one thing from Congress in response to last year's massive Equifax hack: free freezes of their data held by the credit-reporting companies.


(END) Dow Jones Newswires

March 08, 2018 17:15 ET (22:15 GMT)

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