Marvell announces $115B all-stock deal for Lumentum
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- Following speculation that a deal could be announced soon, Marvell Technology (MRVL) disclosed on Monday that it intends to acquire Lumentum (LITE) in an all-stock deal.
- The deal puts an enterprise value of $115 on Lumentum, or roughly $1,132 per share. It represents a 23.9% premium based on each company’s share price as of Oct. 28, prior to the reporting that a deal was near.
- Marvell shareholders will own roughly 67% of the combined company, while Lumentum stockholders will own approximately 33%.
- Marvell shares rose 3.9% in premarket trading, while Lumentum shares were halted and set to resume at 7:30 a.m. EST.
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