Marvell agrees to acquire Lumentum
MRVL•Marvell agreed to acquire Lumentum in a transaction valuing the target at an implied enterprise value of $115 billion. Lumentum stockholders will receive 4.5 Marvell shares per share, implying about $1,132 per share, with closing expected in the first half of 2028.
1. Deal terms
Lumentum stockholders will own approximately 33% of the combined company. The transaction’s implied value represents a 23.9% premium to unaffected closing share prices on October 28, 2026.
2. Expected benefits
Marvell projects annual run-rate cost synergies above $1 billion and expects non-GAAP earnings-per-share accretion in the first year after closing.
