| | | Market Chatter: Wolfspeed to Be Taken Over by Creditors Via Prepackaged Bankruptcy Deal
MT NEWSWIRES 10:29 AM ET 6/18/2025
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| WOLF | 1.325 | +0.075 (+6%) | | APO | 134.3422 | +1.9822 (+1.4976%) | | QUOTES AS OF 10:42:22 AM ET 06/18/2025 | Symbol Last Price Change
10:29 AM EDT, 06/18/2025 (MT Newswires) -- Wolfspeed's(WOLF) creditors, including Apollo Global Management(APO) , will take over the company as part of a deal that will speed up a Chapter 11 bankruptcy process, Bloomberg reported Tuesday, citing people familiar with the plan.
The chipmaker will imminently disclose a prepackaged bankruptcy arrangement and then ask creditors to vote on it, followed by a Chapter 11 bankruptcy filing, the people reportedly said.
Shareholders can potentially recover about 5% in the proposed deal, the report said, citing one of the people.
Wolfspeed (WOLF) declined and Apollo did not immediately respond to MT Newswires' request for comment.
Shares of Wolfspeed(WOLF) were up 7.3% while Apollo shares were up 1.3% in recent trading.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Price: 1.34, Change: +0.09, Percent Change: +7.28 |
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