Marvell agrees to acquire Lumentum
LITE•Marvell will acquire Lumentum in an all-stock transaction with an implied enterprise value of $115 billion. Lumentum stockholders will receive 4.5 Marvell shares per share, implying about $1,132 per Lumentum share.
1. Deal terms
Marvell will acquire Lumentum in an all-stock transaction combining their electrical and optical connectivity technologies. The fixed exchange ratio of 4.5 Marvell shares per Lumentum share represents an approximately 23.9% premium to unaffected closing prices on October 28, 2026. The deal is expected to close in the first half of 2028, with existing Marvell stockholders owning about 67% of the combined company. It targets more than $1 billion in annual run-rate cost synergies and is expected to boost non-GAAP earnings per share in its first year.
