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Thermal management solutions company $MOD said it has agreed to acquire commercial and industrial coils, coolers and related products maker, Luvata Heat Transfer Solutions, for about $422MM, to be financed through a combination of cash, debt, and $25MM of $MOD common stock. Transaction is expected to close within CY 2016.
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.