Marvell to buy Lumentum in all-stock deal, a massive bet on AI connectivity
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Marvell Technology has agreed to acquire optical components maker Lumentum in an all-stock transaction with an implied enterprise value of $115 billion. Under the fixed-ratio agreement, Lumentum shareholders will receive 4.5 Marvell shares per share. Announced by Marvell Chairman and CEO Matt Murphy, the deal is expected to close in the first half of 2028.
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