After Hours: Apple App Store Changes, Valeant Mulls Options, BATS IPO
Apple ( AAPL ) has formed a secret team to mull changes to its App Store, including a paid search feature in which app developers would pay to have their apps displayed at the top of results, Bloomberg reported , citing sources. Apple already takes a 30% cut from app purchases bought via App Store. BATS Global Markets ( BATS ) priced its initial public offering of 13.3 million shares, raising $252.7 million. The expected range was 17-19. The stock exchange, which attempted to go public in a 2012 fiasco, will trade as BATS starting Friday. Valeant Pharmaceuticals ( VRX ) has hired investment banks to review its options amid interest from buyout firms and others for some assets, Reuters reported , citing sources. It’s further evidence that Valeant may need to sell significant assets to cover its heavy debt load. Shares rose 2% in late trading. Depomed ( DEPO ) scrapped plans to reincorporate in Delaware after Starboard Value launched a proxy fight to replace its board, in part to stop that move. Delaware gives companies more power to block shareholder activism. The drugmaker’s stock rose 2% late.