Wall Street's M&A Chatter From September 13: Tenet, Potash, Oclaro, Lattice Semiconductor

Tenet Healthcare Exploring Potential Sale

The Deal:

Tenet Healthcare Corp. THC is considering a range of potential options, including a sale of the company, according to sources as reported by the Wall Street Journal. Tenet has hired advisors to explore the options, the sources said.

Tenet announced on Aug. 31 its Chairman and CEO Trevor Fetter would step down following a transition period.

Tenet Healthcare closed Wednesday at $16.24 and traded as high as $18.78 after-hours.

Potash Considers Sale in SQM Stake

The Rumor:

Potash Corp. of Saskatchewan POT may sell its stake in Chilean lithium miner SQM SQM, according to sources as originally reported in the Spanish-language publication Diario Financiero on Tuesday and again on Wednesday by Mining.com. The sale would take place to gain regulatory approval for its merger with Agrium AGU, the report said.

Potash currently has a 32 percent percent stake in SQM and controls three of the eight board seats.

SQM closed at $54.32, up $2.12.

Oclaro Said to be in Sale Talks

The Rumor:

Shares of Oclaro Inc. OCLR spiked higher, as DealReporter reported the company may be in sale talks. Finisar FNSR and Lumentum LITE were mentioned as potential buyers.

Oclaro closed at $8.95, up 45 cents.

Trump Blocks China-Backed Takeover of Lattice Semiconductor

The Deal:

President Trump blocked a Chinese-backed Canyon Bridge Capital Partners from acquiring Lattice Semiconductor Corp. LSCC. That's the fourth time a U.S. president has blocked a foreign takeover of a U.S. company in the last 25 years.

Today's action could affect Alibaba-controlled BABA Ant Financial from acquiring MoneyGram International MGI.

Lattice Semiconductor closed at $5.72 and traded as low as $5.43 after-hours.