Market Overview

Wall Street's M&A Chatter From May 12-14: Apple-Lattice Data, Broadcom, Globalstar

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The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday, May 12, through Sunday, May 14, 2017.

Apple Acquires Lattice Data for $200M

The Deal:

Apple Inc. (NASDAQ: AAPL) has acquired AI Company Lattice Data for $200 million, according to a source as reported by TechCrunch on Saturday. The acquisition closed a couple of weeks ago, the source said.

An Apple spokesperson said, “Apple buys smaller technology companies from time to time and we generally do not discuss our purpose or plans.”

Apple closed Friday at $156.10, up $2.15.

EU Regulators Agree to Clear Broadcom's Avago $5.5B Bid for Brocade

The Approval:

Broadcom (NASDAQ: AVGO) announced Friday that the European Commission has granted conditional antitrust clearance of the proposed merger with Brocade Communications. In accordance with the EC decision, Broadcom agreed to certain commitments as set forth in that decision and told the EC that it will not close the merger prior to the appointment of the monitoring trustee.

Brocade closed at $235.96, up $4.87.

GlobalStar Working With Advisers on Exploration of Potential Sale

The Rumor:

Globalstar Inc. (NASDAQ: GSAT) is working with advisers on a potential sale, according to sources as reported by Bloomberg on Friday. Possible suitors may include wireless and cable companies, one source said.

GlobalStar did not immediately respond to a request for comment.

Globalstar closed at $2.29, up $0.38.

Posted-In: M&A News Rumors

 

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