Before the ink was dry, the stock market had already priced in the deal.
Marvell is in advanced talks to acquire Lumentum, which has a market cap of about $83 billion, compared with Marvell’s $221 billion. An announcement could come as soon as next week.
In after-hours trading, Lumentum rose about 11% to $1,018, up 35% from its Oct. 22 close of $752.54, and up 148% year to date. Marvell fell nearly 10% after hours.
The buyer falls, the seller rises—and the buyer’s shareholders are the first to pay the premium. $MRVL $LITE
Marvell is in advanced talks to acquire Lumentum, which has a market cap of about $83 billion, compared with Marvell’s $221 billion. An announcement could come as soon as next week.
In after-hours trading, Lumentum rose about 11% to $1,018, up 35% from its Oct. 22 close of $752.54, and up 148% year to date. Marvell fell nearly 10% after hours.
The buyer falls, the seller rises—and the buyer’s shareholders are the first to pay the premium. $MRVL $LITE
