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$NAV said Volkswagen Truck & Bus will acquire 16.2MM newly issued $NAV shares, representing 19.9% of pre-deal outstanding stock, for $15.76 per share. $NAV will receive $256MM from the deal to be used for corporate purposes. Volkswagen will hold the $NAV shares for a minimum of 3 years, and will have the right to appoint 2 directors to $NAV BoD.
$WBA is yet to receive US anti-trust clearance for its Rite Aid acquisition. The deadline for the deal expires on January 27.
$BMY plunge 7.2%. No credits to the non-acceleration of approval for lung cancer combination treatment.
Well this is big! I don’t know if it’s someone’s monopoly or genuine excitement, but either way, $CSX is up 23% after market closed. I heard some activist investor is going to blow big money into CSX Corp. Anyone mind explaining?