May 11, 2017 / 5:03 AM / 3 years ago

PRESS DIGEST- Wall Street Journal - May 11

May 11 (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.

- Verizon Communications Inc will buy Straight Path Communications Inc for more than $3 billion, after beating rival AT&T Inc in an unusually intense bidding war for the wireless-spectrum holder, according to people familiar with the matter.

- American International Group Inc plans to name Brian Duperreault - a onetime lieutenant to former CEO Maurice "Hank" Greenberg - as the firm's chief executive officer, with an announcement expected as soon as Thursday, according to people familiar with the matter.

- Whole Foods Market Inc is dramatically reshaping its board in an effort to show it is open to change after an activist investor last month publicly urged the organic-grocery chain to explore a sale and speed up its turnaround efforts.

- Snap Inc, in its first quarterly report as a public company, showed it struggled to maintain strong user growth at its Snapchat vanishing-messaging app, sending shares tumbling and sparking worries about its ability to challenge social-media titan Facebook Inc

- Bombardier Inc, which ranks as one of Canada's largest corporate recipients of government financial backing, is facing a push to remove its executive chairman, Pierre Beaudoin, a member of the founding family that controls the transportation company through multiple-voting shares.

- Calpine Corp, which owns 80 power plants and has a so-called enterprise value of more than $16 billion, is working with investment bankers at Lazard to sound out possible buyers, according to people familiar with the matter. (Compiled by Bengaluru newsroom)

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