- Bloomberg reported late Oct 28, citing sources, that Marvell Technology is in late-stage talks to buy Lumentum, a bid to create a larger AI hardware business.
- Lumentum stock jumped on Oct 29 after the report, but gains faded and Marvell shares tumbled.
- CNBC's David Faber said on Oct 30 that the deal is not at a big premium for Lumentum and will be all stock.
- Lumentum shares fell 3.9% on Oct 30 following the premium report.
Quotes
“is not at a big premium”