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$PII agreed to buy private;y-held Transamerican Auto Parts (TAP), an integrated maker of off-road Jeep and truck accessories, for $665MM. It will close by year-end 2016. TAP will operate as distinct business unit reporting to Steve Eastman, $PII's PG&A President. $PII will fund acquisition with borrowings under existing credit facilities.
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.