Marvell and Lumentum sign definitive 115 billion dollars all-stock merger to build an AI-connectivity leader

Marvell and Lumentum have signed a definitive agreement for an all-stock merger to establish a leader in AI connectivity. The deal carries an implied enterprise value of 115 billion dollars, with Lumentum stockholders receiving 4.500 Marvell shares per share. This represents a 23.9% premium over the October 28 close, valuing Lumentum shares at approximately 1,132 dollars. The transaction is expected to close in the first half of 2028, pending necessary regulatory and shareholder approvals.