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
Shares of Ariad Pharmaceuticals (NASDAQ: 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
Shares of Loral Space & Communications (NASDAQ: 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
Luna Innovations (NASDAQ: LUNA), announced Wednesday the sale of its shape-sensing technology for medical applications to Intuitive Surgical (NASDAQ: 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.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.