to acquire Ruckus Wireless and ICX Switch from Brocade Communication Systems. The
transaction is expected to close about one month following the closing of Broadcom's
acquisition of Brocade. The transaction is contingent on Broadcom closing its
acquisition of Brocade, which is expected to close in 3Q17.
$ARRS has agreed to acquire Brocade Communication Systems Inc.'s
Ruckus Wireless and ICX Switch business for $800MM, plus the additional cost of
unvested employee stock awards, following the closing of Broadcom Limited’s
acquisition of Brocade. $ARRS expects the acquisition to be accretive to its adjusted
EPS in the first 12 months.
$XL announced that Group Controller Stephen Robb will succeed
Peter Porrino as CFO, following Mr. Porrino’s retirement, effective May 1,
2017. Mr. Porrino will continue with the company on a part-time basis, working
as an advisor to CEO Mike McGavick.
For FY17, $LB expect EPS to be in the range of $3.05-3.35. This forecast includes negative impacts related to the exit of the swim and apparel categories at Victoria’s Secret, continued investment in China and investment in real estate at Victoria’s Secret and Bath & Body Works. For 1Q17, $LB expects EPS to between $0.20-0.25.