Marvell in Advanced Talks to Buy Lumentum

Marvell Technology is in advanced talks to acquire Lumentum Holdings, according to a report based on unnamed sources, a possible deal that sent Marvell shares sharply lower on October 29. Neither company had confirmed an agreement, and no purchase price or financing terms were disclosed. Marvell closed at $218.34, down 13.24% for the session, on trading volume of 40.4 million shares, about 87% above its three-month average, according to market data cited in the reporting. Lumentum rose 0.61% to $919.53. Marvell’s decline followed a fall of about 10% in premarket trading, an earlier observation rather than its closing performance. The acquisition report, published October 28, said an announcement could come as soon as the following week, without specifying a date. That was a possibility, not confirmation that the companies had reached an agreement. The account traced to unnamed sources familiar with the discussions; the companies had not publicly confirmed the talks in the reviewed reports. The reported transaction’s price, payment structure, expected synergies and board approval status were not disclosed. Lumentum’s market value, cited at about $83 billion, is not an offer...