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The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday October 1:
Angie's List Says No Plan to Address Strategic Review RumorThe Rumor:
Shares of Angie's List
ANGI rose as high as $8.73 Wednesday, following a report from
Financial Times Tuesday that the company had hired bankers to explore strategic options, including a potential sale of the company.
A spokesperson for Angie's List told
Benzinga via email Wednesday, that the company would not issue a response to the rumor.
Shares of Angie's List pulled back off the highs and closed the day at $7.59, a gain of 19%.
Report Circulating of SoftBank Bid for Yahoo:
Shares of Yahoo! Inc.
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moved higher Wednesday, on a
report out of China that CEO Marissa Mayer had been approached by SoftBank Corp.
SFTBY CEO Masayoshi Son about a possible deal.
Spokespersons for the two companies were not available for comment.
Yahoo shares lost 1% Wednesday to close at $40.32.
Sandell Believes JDS Uniphase Worth $19.00-$26.00/ShareThe Shareholder Letter:
Shares of JDS Uniphase Corporation
JDSU spiked higher early Wednesday, on release of a letter from shareholder Sandell Asset Management. Sandell believes JDSU must commence a formal auction of its CCOP business and notes its current stock price reflects next to no value for the company's substantial tax assets. Sandell estimates the potential value of JDSU's various business segments and tax assets at $19.00-$26.00 per share.
Sandell is urging the company's Board to evaluate additional strategic alternatives
JDS Uniphase closed Wednesday at $13.15, a gain of 2.7%.
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