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Insurance holding company $AFG said its subsidiary the Great American Insurance Co will acquire $NATL for $320MM, which is based on a value of $32.00 per share and a $0.50 special dividend. The deal, expected to be complete during 4Q16, will generate tax benefit of approx. $64MM to $AFG.
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.