US Stock Alert | $115 billion acquisition finalized! Lumentum (LITE.US) drops nearly 6% in pre-market trading

智通财经APP reported that on Monday, Marvell Technology (MRVL.US) fell more than 2% in pre-market trading, while Lumentum (LITE.US) dropped nearly 6% pre-market. According to reports, on November 2 local time, Marvell Technology announced that it had reached a definitive agreement with optical communication component manufacturer Lumentum to acquire the latter through an all-stock transaction, with the deal implying an enterprise value of approximately $115 billion. Under the agreement, for each share held, Lumentum shareholders will receive 4.5 shares of Marvell stock. Based on the closing prices of the two companies on October 28, the last trading day before rumors of the deal emerged, the acquisition premium is about 23.9%.