Marvell Reportedly Near Deal to Buy Lumentum
A report says Marvell is close to buying Lumentum. Lumentum shares rose 5.5% in premarket trading Thursday, while Marvell shares tumbled.
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01:16:38 PM UTC
SquawkNews
Marvell Technology NASDAQ:MRVL is in advanced talks to buy Lumentum Holdings NASDAQ:LITE, a maker of data center optics, and a deal could come as soon as next week.The report cited people familiar with the matter. Representatives for the two companies could not immediately be reached for comment by…
By Nora RedmondShares in Lumentum Holdings climbed 5.5% in premarket trading on Thursday.Shares in Marvell Technology have tumbled after a report that the chip company is close to buying optical-networking technologies manufacturer Lumentum Holdings. But analysts say the potential combination could…