Essar Steel Minnesota files for chapter 11 bankruptcy and other top stories.

• Essar Steel Minnesota files for chapter 11 bankruptcy

  Essar Steel Minnesota LLC [ESML.UL], a U.S. affiliate of India's shipping, natural resources and power conglomerate Essar Global Group, filed for chapter 11 bankruptcy protection on Friday.The company's assets and liabilities are estimated to be worth between $1 billion and $10 billion, according to a court filing in the District of Delaware. Reuters reported in March, citing sources, that the company had hired financial and legal advisers to help it restructure its debt. Essar Steel Minnesota..

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• Polycom says to be bought by PE firm; ends Mitel deal

  

  (Reuters) - Video conferencing equipment maker Polycom Inc said it agreed to be bought by a private equity firm for about $1.7 billion, scrapping a three-month old deal with Canada's Mitel Networks Corp. The PE firm, Siris Capital Group, offered $12.50 per share in cash for Polycom, representing a premium of 15 percent to Polycom's Thursday close. Polycom's shares rose about 13.6 percent to $12.35 in premarket trading on Friday, just shy of the offer price. Mitel shares j..

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• CBS Radio Files for IPO as Parent Plans to Jettison Business

  

  CBS Radio Inc., a division of CBS Corp., filed for an initial public offering as one of the nation’s oldest broadcasters prepares to leave the shrinking AM/FM radio business.The company filed for an initial offering of $100 million, a placeholder amount that’s used to calculate fees and will probably change. CBS Radio plans to take on debt before the stock sale to give to its parent , the Friday filing shows, as well as distribute some of the IPO proceeds to CBS. The rest will fund general corp..

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• Old Navy helps boost Gap key sales figure; stock soars

  

  NEW YORK (AP) — After months of declines, Gap said a key sales figure rose 2 percent in June, the retailer's first monthly increase in more than a year. Shares of Gap rose nearly 5 percent Friday. Your current subscription does not provide access to this content. Please click the button below to manage your account. Subscribe Thank you for reading and relying on TulsaWorld.com for your news and information...

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• Big Insurers Defend $34 Billion Merger

  

  Aetna Inc. and Humana Inc. face resistance from the Justice Department to their proposed $34 billion merger and an uphill battle persuading antitrust enforcers the deal won’t harm competition, according to people familiar with the matter. The insurers on Friday met with top government officials in a late-in-the-game attempt to make their case that the deal has public benefits and won’t hurt consumers, and that they could address...

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• Wendy's: More than 100 Michigan locations hit by credit card breach

  

  DETROIT — More than 100 Michigan Wendy's locations have been hit by a credit card breach. File | MLive.com  The breach affects customers between Dec. 2, 2015 and June of this year spanning nearly 50 different cities. To search the database of impacted stores, click here.  "We are committed to protecting our customers and keeping them informed. We sincerely apologize to anyone who has been inconvenienced as a result of these highly sophisticated, criminal cyberattacks involving some Wendy's res..

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