HEALTH CARE

Press Ganey to go private

Press Ganey Holdings Inc., a health care research and consulting firm based in Wakefield, is going private in a $2.35 billion deal. The company said it has entered into an agreement to be acquired by the global private equity group EQT. Shareholders will receive $40.50 in cash per share, a 20 percent premium on the stock’s average price this year. Press Ganey’s board unanimously approved the deal, which is expected to be completed in the fourth quarter of 2016. Chief executive Patrick Ryan said the transaction will allow Press Ganey to accelerate spending on acquisitions and product development. “I look forward to partnering with [EQT] as we develop new solutions to advance patient-centered care in the United States and internationalize the business in the next phase of our development,’’ Ryan said in a statement Tuesday. The deal comes about a year after the company went public on the New York Stock Exchange. — PRIYANKA DAYAL MCCLUSKEY

FANTASY SPORTS

Baker signs bill codifying rules

Regulations governing daily fantasy sports issued by Democratic Attorney General Maura Healey earlier this year have been written into Massachusetts law. Republican Governor Charlie Baker signed a bill Wednesday codifying the rules, which include a minimum age of 21 for participating in the online contests. Baker said giving the regulations the force of law is good for the state’s burgeoning ‘‘innovation economy’’ as well as the fast-growing fantasy sports industry. Baker said it was important to establish guidelines under which companies like Boston-based DraftKings and New York-based FanDuel can operate. — ASSOCIATED PRESS

HEDGE FUNDS

World’s biggest hedge resolves harassment claim

The world’s biggest hedge fund, Bridgewater Associates, said it had resolved a high-profile harassment claim filed against it by an employee who recently left the firm. Christopher Tarui, 34, who worked as an adviser to several large institutional investors in Bridgewater, filed his harassment complaint in January and had been on paid leave since the beginning of the year. He took a job this week as a director with Kohlberg Kravis Roberts & Co., the large private equity firm, a move it confirmed on Wednesday. Tarui also is dropping any claims he has against Bridgewater, and the hedge fund agreed to “waive employee restrictions,’’ allowing him to move to his new job, a Bridgewater spokesman said Wednesday. The spokesman for Bridgewater added that Tarui “did not receive any payment of compensation in connection with his decision to withdraw his claims.’’ Douglas Wigdor, a lawyer for Tarui, declined to comment. In early January, Tarui filed a sexual harassment complaint with the Connecticut Commission on Human Rights and Opportunities, in which he claimed his male supervisor had repeatedly propositioned him for sex. — NEW YORK TIMES

FAST FOOD

Wendy’s latest chain to report weak earnings

Wendy’s is the latest major fast-food chain to report weaker-than-expected sales growth, with the hamburger company saying people aren’t dining out as much because it has gotten even cheaper to eat at home. The chain known for its Frosty shakes and square burgers said Wednesday that sales edged up 0.4 percent at North American restaurants open at least 15 months in the second quarter. Analysts polled by FactSet forecast a 2.4 percent increase. The results from Wendy’s follow disappointing sales from other chains including McDonald’s, Burger King, Dunkin’ Donuts, and Starbucks. — ASSOCIATED PRESS

JOBS

More openings, hirings in June

US employers advertised more openings and hired more people in June, adding to evidence that the job market has rebounded from a brief soft patch in the spring. The number of job openings rose a modest 2 percent to 5.6 million in June from 5.5 million in May, the Labor Department said Wednesday. Still, that figure remains below the 5.8 million openings advertised in April, the highest on records going back 16 years. Hiring increased 1.7 percent in June to 5.1 million, a solid level but below a recent peak of 5.5 million in February. — ASSOCIATED PRESS

RIDE-HAILING

Uber files complaint against Hungarian restrictions

Ride-hailing company Uber filed a complaint on Wednesday with the European Commission against Hungary, where legislation came into force in July practically banning the service. Rob Khazzam, Uber’s general manager for Central Europe, said the company’s aim was to return the service to Budapest, where it began operations in late 2014. Uber had 160,000 users and 1,200 drivers in Hungary. Legislation approved by parliament in June and enforced from July 24 allows authorities to fine Uber and similar services, block their websites and apps, ban the cars of drivers for up to three years, and suspend their licenses for six months. — ASSOCIATED PRESS

PHARMACEUTICALS

Eli Lilly drug for breast cancer fails to meet efficacy criteria in trial

Eli Lilly & Co. fell in New York trading after a breast cancer treatment failed to meet interim efficacy criteria in a late-stage trial, possibly delaying its entry to market. The drugmaker was evaluating the treatment of advanced breast cancer with its abemaciclib drug, given in combination with another medicine, fulvestrant. An independent panel recommended continuing the study without modification, and final results are expected in the first half of next year, Indianapolis-based Lilly said in a statement. The trial involves 669 patients whose disease had progressed following multiple treatments. — BLOOMBERG NEWS

RETAIL

Ralph Lauren loses money, but not as much as expected

Ralph Lauren swung to a first-quarter loss as it spends heavily to turn itself around, but the damage was not as bad as many had expected and its shares rose faster than any other Wednesday on the Standard & Poor’s 500. Just months after taking over as CEO for founder Ralph Lauren late last year, Stefan Larsson (far left, with Lauren) initiated significant changes. He is the first person other than Lauren to hold the title. In addition to slashing costs to right the company’s balance sheet, Larsson tightened its focus on the brands that made Ralph Lauren known worldwide. — ASSOCIATED PRESS

BROADBAND

Federal appeals court overturns FCC rule on broadband expansion

A federal appeals court has overturned a Federal Communications Commission ruling allowing city-owned broadband services to expand into areas overlooked by commercial providers. The decision issued Wednesday comes as part of a dispute between the FCC and two states, Tennessee and North Carolina, about expanding superfast internet service in their respective cities of Chattanooga and Wilson to surrounding areas. Both states had passed laws preventing such expansion. The FCC last year voted 3-2 to override those laws. The states then asked the US Court of Appeals for the 6th Circuit to review the FCC’s ruling. The appeals court said that the FCC’s order pre-empted the state laws and ‘‘the allocation of power between a state and its subdivisions,’’ but the FCC does not have the authority in federal law to do so. — ASSOCIATED PRESS