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$WDC expects to achieve total annual run-rate synergies of $500MM within 18 months post-closing of the $SNDK acquisition, and about $1.1Bil by 2020. $WDC expects to achieve rapid deleveraging, reducing debt by $3Bil within a short period of time after the closing of the deal. The $SNDK deal is expected to close in 2Q16.
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.