Press Digest - Wall Street Journal - July 23

Union Pacific struck a deal with Canadian National Railway to give the Montreal railroad further access in the Midwest in exchange for ending its opposition to the American railroad company's $71.5 billion merger with Norfolk Southern.

The European Union approved Paramount's $81 billion bid to buy Warner Bros Discovery after the companies offered concessions related to film distribution in Europe.

IBM CEO Arvind Krishna pushed to shift the company’s sales force further from large licensing deals to consumption-based cloud models, after the tech giant lowered its full-year revenue growth forecast.

Taco Bell executives convened late-night meetings and set up a war room to manage the chain’s response to a cyclospora outbreak linked to shredded lettuce, with officials diverting supply trucks and mobilizing field teams to throw out cases of lettuce linked to the disease.

U.S. warehouse landlord Prologis sweetened its final takeover bid for U.K. rival Segro to 14 billion pounds ($18.74 billion) and ruled out further increases.

Penske Corp and Mitsui proposed to buy out Penske Automotive Group in a deal potentially worth $3.78 billion, offering $210 a share to take the auto dealership chain private.