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$CAVM said that the transaction will be funded with a combination of $220MM balance sheet cash, $750MM of committed financing, which includes $650MM of term loan and $100MM of short-term bridge debt, and $400MM in new Cavium equity. The transaction is expected to close in 3Q16 pending customary closing conditions.
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.