Tenet Healthcare Reportedly Mulls Sale; Lattice Deal Blocked
M&A news rocked after-hours trading on news that Tenet Healthcare (THC) could put itself up for sale and that the Trump administration decided to block the sale of Lattice Semiconductor (LSCC).
XAutoplay: On | OffHospital operator Tenet has hired advisors to examine several strategic options, but the process is still in an early stage, sources told the Wall Street Journal.
Last month, Tenet announced it would replace veteran CEO Trevor Fetter and members of its board under pressure from an activist investor, Glenview Capital Management.
Tenet stock jumped 12% in late trading to 18.12 after closing down 5.3% at 16.24 in the regular session on the stock market today.
Lattice fell nearly 2% in after-hours trade after President Trump blocked a China-backed fund from buying the U.S. chipmaker.
The bid by Canyon Bridge Capital Partners was deemed a risk to national security.
The Trump administration sent a signal with this move that it will closely scrutinize Chinese investments in semiconductor technology, the Journal reported.
Lattice stock had climbed nearly 3% to finish at 5.71 in the regular session but is still mired near a 52-week low.
Meanwhile, food distributor and Whole Foods supplier United Natural Foods (UNFI) reported EPS climbed 2.9% to 72 cents, beating views by 3 cents, as revenue rose 5.7% to $ 2.34 billion, missing views of $ 2.37 billion.
Shares rallied 5% late.
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