Seagate court win net-neutral to Western Digital, says Brean Capital Brean Capital believes Seagate's (STX) $800M arbitration appeal victory over Western Digital (WDC) was not entirely unexpected. The firm sees the ruling as an incremental positive for Seagate and believes it will have no impact to Western Digital's operations or capital allocation, noting that the company had already accrued liability of $758M and that its intends to make payment using foreign-based cash. Brean reiterates its Buy ratings on both stocks.
Discovery obtains exclusive TV rights to Hasbro film Discovery's (DISCA) Family Channel - formerly Hub Network - has obtained the exclusive broadcast rights to Hasbro's (HAS) animated film "My Little Pony Equestria Girls: Rainbow Rocks" to air on October 17.
Catamaran to acquire Salveo Specialty Pharmacy for $260M in cash Catamaran announced that it has entered into a definitive agreement to acquire Salveo Specialty Pharmacy, an independent specialty pharmacy company headquartered in St. Petersburg, Florida with business operations in New York and California. Salveo manages approximately $400M in annual drug spend. The purchase price of $260M in cash represents a purchase price multiple of approximately 13x Salveo's trailing-twelve-month EBITDA and is expected to be funded through cash on the balance sheet. This acquisition is expected to be completed during Q4.