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As per the agreement, Technip shareholders will receive 2 TechnipFMC shares for each Technip share and $FTI shareholders will receive 1 TechnipFMC share for each $FTI share. TechnipFMC is expected to deliver at least $400MM in annual pretax cost synergies in 2019. The deal will add to both companies' EPS, and is expected to close in early 2017.
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.