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Marvell said to be in advanced talks to buy Lumentum

NewsFeeds update

Marvell Technology is in advanced talks to acquire optical communications equipment maker Lumentum, with a deal possibly announced as early as next week, people familiar with the matter said. Marvell shares fell more than 10% after hours while Lumentum rose as much as 15%.

AIOdailyAINeutral

Read the original on Odaily

The story so far: Marvell acquisition of Lumentum

Marvell Technology agreed to buy Lumentum in an all-stock deal valued at about $115bn, a bet on AI data centres. Lumentum shares turned lower premarket, falling as much as 3.6%, and the decline widened to 5.5% while Marvell fell 3.3%; the merger agreement sets termination fees of up to $5.8bn.

  1. Marvell said to be in advanced talks to buy Lumentum

    Marvell Technology is in advanced talks to acquire optical communications equipment maker Lumentum, with a deal possibly announced as early as next week, people familiar with the matter said. Marvell shares fell more than 10% after hours while Lumentum rose as much as 15%.

    AIOdailyAINeutral

  2. Marvell to buy Lumentum in all-stock deal valued at about $115bn

    Marvell's all-stock acquisition of Lumentum implies an enterprise value of about $115bn, or roughly $1,132 a share, a premium of about 23.9% to the pair's unaffected closing prices on 28 Oct. The companies said the merger combines Marvell's electrical and optical interconnect, switching and custom chip work with Lumentum's lasers, optical transceivers and optical circuit switching.

    AIChainCatcherAINeutral

  3. Lumentum briefly gains 4.2% as pre-market trading resumes before turning lower

    Binance market data showed Lumentum (LITE.O) briefly up 4.2% after pre-market trading resumed, before its shares turned negative. Marvell Technology (MRVL.O) is set to acquire Lumentum in a $115bn all-stock deal aimed at the AI data centre sector.

    AIPANewsAINeutral

  4. Lumentum turns lower premarket, falling 3.6% on Marvell takeover deal

    Lumentum turned lower in premarket trading, falling as much as 3.6% to $819.36, as Marvell Technology agreed to buy it in an all-stock deal valued at $115bn, a bet on AI data centres.

    AIOdailyAINeutral

  5. Lumentum falls 5.5% premarket as Marvell drops 3.3%

    Lumentum's premarket decline widened to 5.5% and Marvell Technology fell 3.3%, according to MSX.COM data. Their merger agreement sets termination fees of up to $5.8bn payable by Marvell in some cases, including $3.2bn in certain scenarios, and $2.9bn payable by Lumentum if it ends the deal.

    MacroOdailyAINeutral

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Every update is a short rewrite, by AI in our own words, of a flash from the outlet named on it, credited and linked. Updates are joined into one story by AI; our editors can change a story’s name or take an update out. Not investment advice.