Market Overview

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


Tenet Healthcare Exploring Potential Sale

The Deal:

Tenet Healthcare Corp. (NYSE: 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 (NYSE: POT) may sell its stake in Chilean lithium miner SQM (NYSE: SQM), according to sources as originally reported in the Spanish-language publication Diario Financiero on Tuesday and again on Wednesday by The sale would take place to gain regulatory approval for its merger with Agrium (NYSE: 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. (NASDAQ: OCLR) spiked higher, as DealReporter reported the company may be in sale talks. Finisar (NASDAQ: FNSR) and Lumentum (NASDAQ: 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. (NASDAQ: 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 (NASDAQ: BABA) Ant Financial from acquiring MoneyGram International (NYSE: MGI).

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


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Posted-In: M&A News Rumors