BUZZ - There are reports that MKS Instruments is in advanced talks to acquire Lumentum, causing its stock price to drop.

October 29 - ** Marvell Technology (MRVL.O) shares dropped 9.5% in pre-market trading to $227.64

** According to a source quoted by Reuters on Wednesday, the company (link) is in advanced talks to acquire data center optical component manufacturer Lumentum Holdings LITE.O, with the deal possibly being announced as early as next week

** Marvell and Lumentum have not yet responded to Reuters' requests for comment

** According to a Bloomberg report, after the news of the negotiations, LITE shares rose by 4.8%. The company's market capitalization is about $8.3 billion

** "From a strategic perspective, we believe this is a smart move for MRVL. The importance of optical networking in AI is rising significantly, as it accelerates data transmission and reduces power consumption." — Investment bank Piper Sandler

** As of the previous trading day's close, MRVL has nearly tripled this year, while LITE has more than doubled

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