Marvell to Acquire Lumentum in All-Stock Transaction

Odaily Reports: Marvell Technology has reached a definitive agreement with Lumentum to acquire Lumentum in an all-stock transaction. Under the agreement, each Lumentum shareholder will receive 4.5 shares of Marvell common stock for every 1 share held. Upon completion of the transaction, existing Marvell shareholders will hold approximately 67% of the combined company, while Lumentum shareholders will hold approximately 33%. The transaction is expected to close in the first half of 2028, subject to approval by both companies' shareholders and regulatory authorities. Marvell expects the merger to achieve more than $1 billion in annual cost synergies and to be accretive to non-GAAP earnings per share in the first year following completion. The combined company's total addressable market is expected to expand to $550 billion.