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:

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Shares of Ariad Pharmaceuticals

surged higher after-hours Wednesday, on a report from the UK

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.

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Shares of Loral Space & Communications

spiked over $82.00 Wednesday on a report from

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%.

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Luna Innovations

, announced Wednesday the sale of its shape-sensing technology for medical applications to Intuitive Surgical

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.