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Semiconductor products provider $CAVM said it will acquire all of the outstanding $QLGC common stock for approx. $15.50 per share, comprised of $11 per share in cash and 0.098 of a share of Cavium common stock for each share of QLogic common stock, through an exchange offer. The deal will be $0.60-0.70 accretive to $CAVM's CY17 non-GAAP EPS.
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.