Lumentum and Marvell Shares Fall, Deal Discount Widens to 15.2%

Lumentum fell 18.68% and Marvell slid 16.43% in Thursday’s U.S. session, widening the discount on Lumentum shares to the all-stock deal value and leaving a 15.19% gap. Lumentum closed at $509.70 while Marvell ended at $133.55. Under their merger agreement, each Lumentum share is to convert into 4.5 Marvell shares, putting the implied exchange value at $600.98 per Lumentum share at Marvell’s close. The gap had been 12.84%, and widened by 2.35 percentage points. A separate snapshot of contracts showed LITE at $535.74 and MRVL at $140.56.

Source: TokenPost