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$LMCB reported that the selling stockholders will get a mix of consideration comprising $1.1Bil in cash, 138MM newly issued shares of $LMCK and a $351MM exchangeable debt instrument to be issued by Formula One and exchangeable into shares of $LMCK. Funding for the cash part is expected to come from cash on hand at $LMCK.
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.