Marvell Plans $115 Billion Acquisition of Lumentum
Marvell said Monday it plans to acquire Lumentum at a valuation of $115 billion. Both stocks were on pace for historically poor weekly performances by Friday.
By Kit NortonMarvell Technology on Monday said it plans to acquire Lumentum Holdings at a valuation of $115 billion. By Friday, shares of each company were on pace for historically poor weekly performances.Marvell stock rose 4.1% to $139.05 on Friday while Lumentum advanced 4.4% to $531.60. The gai…