Wall Street Journal: October 29
GEV•The Wall Street Journal’s top stories include GE Vernova’s planned $9 billion purchase of Trench Group and a $1.4 billion offer for Wendy’s from Nelson Peltz and partners.
1. Business deals
GE Vernova said it will buy high-voltage grid equipment maker Trench Group from Triton Partners for $9 billion and raised its full-year revenue forecast for the third time. Nelson Peltz and several partners offered to buy Wendy’s for $1.4 billion, arguing the fast-food chain would be best turned around outside the public eye.
2. Other developments
MGM Resorts told analysts that acquisition talks with Barry Diller’s People Incorporated have ended. Weil, Gotshal & Manges plans to wind down its operations after an exodus of partners. The digest also reports on US Vice President JD Vance’s efforts to revive peace negotiations with Iran and a policy allowing licensed pharmacies and physicians to compound certain unapproved peptides.
