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$SSS said it agreed to buy LifeStorage, a privately-owned self storage operator, for gross aggregate price of about $1.3Bil, payable in cash. $SSS has secured $1.35Bil in bridge financing to provide certainty of closure, but the company plans to permanently finance transaction with proceeds from contemplated equity and debt offerings.
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.