Marvell Agrees to Acquire Lumentum in Deal With $115 Billion Enterprise Value

Marvell and Lumentum announced Monday an all-stock agreement that implies an enterprise value of $115 billion for Lumentum, joining semiconductor and optical networking businesses. Lumentum shareholders will receive 4.5 Marvell shares for each share they hold. The companies gave the exchange an implied value of about $1,132 per Lumentum share, a 23.9% premium using Oct. 28 as the unaffected-price reference. Marvell closed at $196.40 on Oct. 30, down $21.94, or 10.05%, for the session. That decline came before the deal announcement Monday.

Source: TokenPost