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Under the terms of the agreement, $MAA said that each share of $PSS common stock will be converted into 0.71 shares of newly issued $MAA common stock. On a pro forma basis, following the merger, former $MAA equity holders will hold approx. 67.7% of the combined company's equity, and former $PSS equity holders will hold approx. 32.3%.
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.