Lumentum
Marvell plans to acquire Lumentum for $115 billion
Marvell Technology has agreed to acquire the optoelectronic component manufacturer Lumentum for $115 billion. According to Bloomberg, the deal was approved by Nvidia CEO Jensen Huang. Marvell's shares fell nearly 13% on Monday, while Lumentum's dropped almost 19%.
Marvell Shares Drop 10% on Lumentum Acquisition News
Marvell is in the final stages of acquiring Lumentum. After the close on October 28, MRVL fell by 9.97% to $226.55, while LITE rose by 5.54% to $964.45. The reason is concerns regarding the valuation and financing of the deal.