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The following are the M&A deals, rumors and chatter circulating on Wall Street for Wednesday October 8, 2014:
Cliffs in Talks With 'Multiple' Parties to Sell Non-Core AssetsThe Talks:
Shares of Cliffs Natural Resources Inc.
CLF rose Wednesday on a report from
WSJ that CEO Lourenco Goncalves said "multiple" parties are interested, but has no deadline for selling non-core assets.
Shares of Cliff's have fallen more than 40% in 2014, due to weak China demand and oversupply.
Cliffs Natural Resources closed Wednesday at $7.97, a gain of 2.5%.
Rumors Icahn May Ask Tim Cook to Buy Netlfix or NuanceThe Rumors:
Shares of Netflix, Inc.
NFLX and Nuance Communications, Inc.
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rose Wednesday, following a
tweet from Carl Icahn that he was sending an open letter to Apple Inc.
AAPL CEO Tim Cook, adding "believe it will be interesting." Various rumors were reported that Icahn could mention a potential deal with Nuance or Netflix.
Other Icahn-related issues, including Ebay, Hertz and Clorox, also moved higher following the tweet.
Shares of Nuance Communications closed Wednesday at $14.77, and rose another 2.5% after-hours. Shares of Netflix rose 2% to close at $466.86.
Elliott Management Urges EMC Spinoff of VMware, M&A OpportunitiesThe Shareholder Letter:
Shareholder Elliott Management sent a letter to the EMC Corporation
EMC Board of Dierctors on Wednesday, recommending various options including a spinoff of VMware, Inc.
VMW and M&A opportunities. Elliott owns approximately 2.2% of EMC shares.
EMC's Board responded that they have met with representatives of Elliott several times and listened to their ideas, as with all shareholders. The Board said it regularly reviews and evaluates the company's strategy, while considering shareholder value.
EMC shares rose almost 2.5% Wednesday to close at $28.62, a while VMware shares gained $1.56, to close at $92.98.
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