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During 3Q16, $SYY entered into an agreement to acquire Cucina Lux Investments Limited, a parent holding company of the Brakes Group. The aggregate enterprise value to be paid by $SYY is approx. $3.1Bil and includes the repayment of approx. $2.3Bil of the Brakes Group's outstanding financial debt. The purchase price will be paid entirely in cash.
The latest earnings report by $VZ shows how it is losing customers despite offering the unlimited data plans, a record for the company.
$BEBE is closing down all its stores by the end of May.
$WFC agreed to hike its payout in a class-action settlement over unauthorized accounts by $32 million to $142 million for its retail sales practices. The settlement will now include customers who were impacted as early as May 2002.