Still not quite right...there's no guarantee that is how it would've gone down if the Cubs had put in a claim. If Hendry had put in a claim, the Yankees would have had 3 options: 1) Pull Cano back. 2) Allow the Cubs to have him...taking on his entire salary. 3) Work out a trade. At this point, every team declined to put in a claim, thus he has "passed through waivers". That means at this point, the Yankees can keep him, or trade him, but option 2 is no longer available. You might view it as semantics, but it's actually quite different.