Benzinga's M&A Chatter for Wednesday October 30, 2013
The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday October 30, 2013:
NY Post Reports Sycamore Bidding for Jones Group
Shares of Jones Group (NYSE: JNY) spiked above $16.00 late Wednesday on a tweet from the NY Post's James Covert that private equity firm Sycamore Partners was entering the auction process against G III Apparel and the bid could be as much as $1.3B. Sycamore has been previously mentioned as a potential buyer.
Reports first surfaced in July that Jones Group was considering a sale of all or part of the company. Spokespersons for Jones Group and Sycamore Partners were not available for comment.
Jones Group closed Wednesday at $15.35, a gain of $0.03 on twice average volume.
Report Coleman Cable Exploring Sale
Shares of Coleman Cable (NASDAQ: CCIX) surged higher Wednesday on a report from Reuters that the company was exploring a sale of the company and had hired Jefferies as an advisor to assist in the process.
A spokesperson for Coleman Cable was not available for comment on the report.
Coleman Cable closed Wednesday at $24.35, a gain of 8% on 8 times average volume.
WiLAN to Explore Strategic Alternatives
The Strategic Alternative Process:
Wi-LAN (NASDAQ: WILN) announced Wednesday that its Board of Directors has initiated a process to explore and evaluate a broad range of strategic alternatives to enhance shareholder value. Canaccord Genuity is serving as financial advisor for the process.
Wi-LAN closed Wednesday at $3.15, a gain of 5% on 3 times average volume.
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