[DEVELOPING] Marvell reported in advanced talks to buy Lumentum in all-stock deal; MRVL falls 13%
Bloomberg, citing people familiar with the matter, reported that Marvell is in advanced talks to acquire Nvidia-backed optics maker Lumentum in an all-stock deal that could be announced as soon as next week. Neither company has confirmed the talks, and no terms have been reported. MRVL closed down 13.24% at $218.34 on Oct. 29, and LITE closed up 0.61% at $919.53, with coverage citing dilution and financing concerns. If signed, the deal would consolidate AI-datacenter optical supply. To watch: an announcement or 8-K in the week of Nov. 2, the exchange ratio, and Nvidia's position given its stake in Lumentum.