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$RAX said it agreed with affiliates of certain funds managed by affiliates of $APO to be acquired for $32.00 per share in cash. Funds managed by Searchlight Capital Partners will make strategic equity investment in the acquired company. The transaction has total value of $4.3Bil, which includes assumption of $43MM of net 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.