Wall Street's M&A Chatter From November 2: AT&T-Time Warner, Sprint-T-Mobile, Mallinckrodt-Ocera, Hardinge

The following are the M&A deals, rumors and chatter circulating on Wall Street for Thursday, November 2, 2017.

Mallinckrodt to Acquire Ocera Therapeutics for $1.52/Share, CVR

The Deal:

Mallinckrodt plc MNK and Ocera Therapeutics, Inc. OCRX have entered into an agreement under which Mallinckrodt will acquire Ocera for $1.52 per share in cash, plus up to $2.58 per share in contingent value right (CVR) based on completion of certain milestones. The acquisition will be made via a tender offer by a subsidiary of Mallinckrodt.

The transaction is expected to close in Q4 of 2017.

Ocera Therapeutics closed Thursday at $1.72, up 69 cents.

DoJ Considering Antitrust Suit Related to AT&T's Purchase of Time Warner

The Rumor:

The U.S. Justice Department is preparing for a potential lawsuit that could block AT&T Inc.'s T planned acquisition of Time Warner Inc. TWX, according to sources as reported by the Wall Street Journal. Sources say the DoJ is in talks with both companies regarding a possible settlement, based on conditions.

AT&T said, "We see no reason in the law or the facts why this transaction should be an exception' to the routine DoJ approval of vertical mergers.

AT&T closed at $33.17, down 38 cents. Time Warner shares fell $3.69, to close at $94.70.

Hardinge Board Will Review Indication of Interest from Privet Fund

The Indication of Interest:

Hardinge Inc. HDNG confirmed that Privet FundLP and Privet Fund Management LLC indicated it's currently evaluating a potential transaction to acquire all of the outstanding shares of Hardinge common stock that it doesn't already own for $17.25 per share. The Hardinge board of directors has formed a Strategic Alternatives Committee to review the indication of interest.

Hardinge closed at $17.18, up 68 cents.

Sprint, T-Mobile Attempt to Salvage Merger

The Rumor:

T-Mobile US Inc. TMUS and Sprint Corp S are attemping to save their merger deal, according to sources as report by the Wall Street Journal. Reports on Monday said Softbank SFTBY Chairman Masayoshi Son was calling off the merger talks due to concerns about giving up control of Sprint to T-Mobile parent Deutsche Telekom.

Sources say T-Mobile presented a revised offer, which is being considered by Sprint.

T-Mobile closed at $58.30, down $1.45.