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$KLXI said it acquired Herndon Aerospace & Defense. The price of about $210MM in cash, plus a standard working capital adjustment, represents multiple of about 10.5 times Herndon's fiscal year ended Dec. 31, 2015 adjusted EBITDA. Pro forma for expected synergies, purchase price multiple is expected to be about 7 times adjusted EBITDA.
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.