Benzinga's M&A Chatter for Tuesday August 26, 2014

The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday August 26, 2014:

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Shares of Ann, Inc.

, the parent of retailer Ann Taylor, surged higher Tuesday, on a report from

that it had hired JPMorgan Chase to consider strategic alternatives, including a potential sale. Spokespersons for Ann and JPMorgan declined comment on the report. Ann, Inc. closed Tuesday at $41.87, a gain of almost 5%.

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Shares of Alteva

spiked higher late Tuesday, following an offer from Jupiter Investment, to acquire the cloud-based communications company for $8.00 per share in cash. Altera reported a 6.2% stake in Alteva as of August 26. Jupiter made the offer in a letter to Alteva's Board of Directors. Alteva closed Tuesday at $6.88, a gain of 30%.

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Medtronic

announced Tuesday, that it has acquired Sapiens Steering Brain Stimulation for approximately $200 million in cash. The transaction does not impact Medtronic's FY 2015 earnings guidance. Medtronic closed Tuesday at $63.52, a loss of $0.11.