Marvell Technology falls after reportedly entering advanced talks to acquire Lumentum
MRVL•Marvell shares fell 9.1% in extended trading after it was reportedly in advanced talks to acquire Lumentum, with a deal potentially announced as soon as next week. Lumentum shares rose 8.9%.
1. Reported acquisition talks
Marvell Technology was in advanced talks to acquire Lumentum, Bloomberg News reported, citing people familiar with the matter. A deal could be announced as soon as next week, the report said. Marvell shares fell 9.1% to $228 in extended trading, while Lumentum shares rose 8.9% to $992.56.
