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.

Posted-In: M&A News Rumors Movers

 

Related Articles (ARIA + ISRG)

View Comments and Join the Discussion!
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.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
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