L-1 shares jump 6 pct after Reuters scooped details of auction, buyers

Shares of L-1 Identity jumped 6 percent on Sept 10 after Reuters broke news that French defense company Safran was nearing a deal to buy the U.S. security firm`s biometric and credential units. Reuters also reported that L-1 planned to break up the company in the auction, selling its government consulting businesses to a different buyer. Bidders for that unit include defense consulting services companies SAIC, ManTech International, and CACI International, Reuters reported. CNBC read out Reuters headlines and the story was widely picked up by outlets including Fox Business News.