$JCP extended its existing stockholder rights plan for an additional three years to continue protecting the company's valuable net operating loss carryforwards (NOLs). As of the end of FY15, the company had about $2.6Bil in NOLs, which in certain circumstances to offset future taxable income and reduce federal income tax liability.
$UDR established an unsecured commercial paper program in the U.S. Under the terms of the program, the company may issue unsecured commercial paper notes up to a maximum aggregate outstanding of $500MM. The proceeds will be used for general corporate purposes.
$LMOS completed acquisition of Clarity Communications Group, in line with prior guidance of a 1Q17 closing. Clarity operates a 730 mile fiber network with 75 on-net locations with the vast majority of its operations in the state of North Carolina.