US Stock Movement | $115 Billion Acquisition Finalized! Lumentum (LITE.US) Falls Nearly 6% in Pre-Market

Zhitong Finance APP has learned that on Monday, Marvell Technology (MRVL.US) fell more than 2% in premarket trading, while Lumentum (LITE.US) fell nearly 6% in premarket trading. On the news front, on November 2 local time, Marvell Technology announced that it had reached a definitive agreement with optical communications component manufacturer Lumentum to acquire the latter through an all-stock transaction, with an implied enterprise value of approximately $115 billion. Under the agreement, Lumentum shareholders will receive 4.5 shares of Marvell stock for each share they hold. Based on the closing prices of the two companies on October 28, before the deal rumors emerged, the transaction premium is approximately 23.9%.