Marvell announces offer for Lumentum: deal valued at 115 billion dollars

Semiconductor maker Marvell Technology announced the acquisition of Lumentum Holdings, a leader in optical technology for AI data centers. The transaction is valued at 115 billion dollars, with closing planned for the first half of 2028. The deal will be conducted entirely through a stock-for-stock exchange—Marvell's current shareholders will retain 67% of the combined company's stake. Wall Street received the news coolly and sold off shares in both firms.

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