Benzinga's M&A Chatter for Wednesday January 22, 2014

The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday January 22, 2014: Report Lilly, Other Big Pharma Approached Ariad The Rumor:
Shares of Ariad Pharmaceuticals ARIA surged higher after-hours Wednesday, on a report from the UK Daily Mail that at least three international big pharma companies, including Eli Lilly have approached the Oncology company regarding a potential buyout. The suitors are prepared to pay as much as $20 per share for Ariad, according to the rumor. Spokespersons for Ariad and Eli Lilly were not available for comment. Ariad Pharmaceuticals closed Wednesday at $6.71, and traded near $7.40 after-hours. Report Loral Exploring Sale The Rumor:
Shares of Loral Space & Communications LORL spiked over $82.00 Wednesday on a report from Reuters on a report the company is exploring a sale, according to sources. Loral is reportedly working with Credit Suisse as an advisor to handle a potential deal. A source is also saying Loral, whose largest shareholder is Mark Rachesky's MHR Fund Management, is talking to Telesat shareholder, Canada's Public Sector Pension Investment Board, about the possibility of a Telesat sale. Loral Space & Communications closed Wednesday at $78.04, a gain of almost 3%. Luna Sells Shape-Sensing Technology for Medical Applications to Intuitive Surgical for Up to $30M The Deal:
Luna Innovations LUNA, announced Wednesday the sale of its shape-sensing technology for medical applications to Intuitive Surgical ISRG for up to $30 million. Luna will receive $12 million upfront in two tranches, plus up to an additional $18 million, based on certain technical milestones and commercial measures. Luna Innovations closed Wednesday at $2.50, a gain of 89% on 131 times average volume.