Skip to main content

Market Overview

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

Share:
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 (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

The Rumor:
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

The Deal:
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.

 

Related Articles (ARIA + ISRG)

View Comments and Join the Discussion!

Posted-In: M&A News Rumors Movers

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com