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$ITW said it recently announced the acquisition of the Engineered Fasteners and Components business from ZF TRW for $450MM. Approx. 70% of the purchase price will be funded with non-US cash and the company expects the acquisition to generate returns on capital in the 16-20% range by year seven.
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.