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$MAR and $HOT said they have amended their merger agreement, under which $HOT shareholders will receive $21 in cash and 0.80 shares of $MAR stock for each share of $HOT stock. Excluding its timeshare business, the deal values $HOT at about $13.6Bil or $79.53 per share, consisting of $10Bil of $MAR stock and $3.6Bil of cash.
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.