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$NWL has agreed to sell its Tools business to $SWK. Gross proceeds from the divestiture are expected to be $1.95Bil. Net sales for the divested business were approx. $760MM for the last 12 months. The transaction is expected to close in 1H17, subject to approvals. JP Morgan acted as financial advisor to $NWL on the transaction.
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.