Marvell to Buy Lumentum in $115 Billion All-Stock Deal

Marvell Technology agreed to acquire Lumentum in an all-stock transaction valuing the optics maker at $115 billion in enterprise value. Lumentum shareholders will get 4.500 Marvell shares for each share they hold, implying about $1,132 per Lumentum share and a 23.9% premium over the unaffected closing price. Marvell ($MVLL) shareholders will own roughly 67% of the combined company, Lumentum holders the remaining 33%, with the deal targeting a combined addressable market of $550 billion in AI connectivity.