3M LANDS Federal Signal Tech Biz for $110M and 4 Buzzing Dow Movers
3M Co. (NYSE:MMM) okays a definitive agreement to purchase Federal Signal Technologies, LLC, or FSTech, a division of Federal Signal (NYSE:FSS), for $110 million in cash, subject to post-closing adjustments and regulatory approvals. The acquisition should close in the second half of this year. The seller intends to use the proceeds primarily to reduce debt.
Microsoft Corporation (NASDAQ:MSFT): Peter Moore, the Chief Operating Officer of Electronic Arts (NASDAQ:EA), said on Wednesday that the video game industry is experiencing an “unbelievably difficult transformation” and that the conventional wisdom “when the new consoles come out, everything is going to be fine again,” no longer pertains, according to an interview published by Kotaku.
Pfizer Inc.’s (NYSE:PFE) reports that its Lyrica (pregabalin) capsules CV for the management of neuropathic pain associated with spinal cord injury have won FDA approval, having first received a priority review designation for this new indication from the agency. It is believed that around 40 percent of the 270,000 patients with spinal cord injury in the U.S. suffer from this chronic, complex pain condition.
Verizon Communications Inc. (NYSE:VZ) is among the selected stores that will have Samsung’s (SSNLF) Galaxy S III smartphone, which has officially been launched in the U.S., in-store and online in the next few weeks, reports the latter. Other companies offering the new device include AT&T (NYSE:T), Sprint (NYSE:S), Verizon Wireless (VZ, VOD) and U.S. Cellular, and available online on T-Mobile’s (DTEGY) Web site.
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