Marvell Technology (MRVL) Stock: Slides 6.35% After $115B Lumentum Acquisition Deal

TLDR Marvell stock falls 6.35% to $183.93 following its $115 billion Lumentum deal. Lumentum shareholders will receive 4.5 Marvell shares for each share they own. Marvell expects more than $1 billion in annual cost synergies after the deal. The acquisition expands Marvell’s AI connectivity market opportunity to $550 billion. Marvell expects the Lumentum acquisition to [...]

The post Marvell Technology (MRVL) Stock: Slides 6.35% After $115B Lumentum Acquisition Deal appeared first on Blockonomi.