November 09, 2026 | Technology | North America | Active
On 2-Nov-26, US semiconductor group Marvell agreed to buy optical components maker Lumentum in one of the tech industry’s largest acquisitions. Lumentum shareholders will receive 4.5 Marvell shares for each share held, initially valuing Lumentum at $1,132 per share at the last undisturbed date (currently worth $679.26) and representing a 23.9% premium to Lumentum’s $913.95 unaffected price on 28-Oct-26 (currently a 25.7% discount). Through completion, Lumentum is not permitted to pay any dividends while Marvell is permitted to distribute its regular quarterly cash dividends, consistent with its past practice. Marvell shareholders will own 67% of the combined entity while Lumentum shareholders will hold the remaining 33%. Both boards unanimously approved the deal, and Marvell CEO Matt Murphy will continue to lead the combined entity, while Lumentum’s CEO, Michael Hurlston, along with two members of Lumentum’s board, will join Marvell’s board. The deal is subject to approval from both sets of shareholders and regulatory approvals, including HSR clearance. Foreign regulatory jurisdictions are not disclosed, but China’s SAMR will need to ...
Contents
Please contact us to request access to this report.