Mergers & Acquisitions ·
Marvell agrees to acquire Lumentum for $115B in all-stock deal at 4.500 exchange ratio
LITELumentum Holdings Inc.
Marvell Technology has entered into a definitive agreement to acquire Lumentum Holdings Inc. in an all-stock transaction valued at approximately $115 billion, implying a price of roughly $1,132 per share for Lumentum common stock. Under the terms, Lumentum shareholders will receive 4.500 shares of Marvell common stock for each share held, representing about 33% ownership in the combined entity post-close. The merger is expected to close in the first half of calendar year 2028, subject to approvals from both companies' stockholders and regulatory clearances, including Hart-Scott-Rodino. Lumentum's board unanimously recommended the deal, which aims to create a category leader in AI connectivity by combining Marvell’s electrical interconnect technologies with Lumentum’s optical photonics capabilities. Lumentum Holdings Inc. is a global leader in optical and photonic technologies powering AI infrastructure.