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$DOV said it agreed to acquire Wayne Fueling Systems, owned by Riverstone Holdings, for $780MM. Upon close of the transaction, Dover's annualized retail fueling revenue will be $1.4Bil after the deal, the company said. Annual revenue for Wayne in 2016 is estimated to be approx. $550MM. The deal is expected to close in the second half of 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.