Market Overview

Benzinga's M&A Chatter for Wednesday October 1, 2014

Benzinga's M&A Chatter for Wednesday October 1, 2014

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 Rumor

The Rumor:
Shares of Angie's List (NASDAQ: 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

The Rumor:
Shares of Yahoo! Inc. (NASDAQ: YHOO) moved higher Wednesday, on a report out of China that CEO Marissa Mayer had been approached by SoftBank Corp. (OTC: 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/Share

The Shareholder Letter:
Shares of JDS Uniphase Corporation (NASDAQ: 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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