Marvell (MRVL) agreed to acquire Lumentum (LITE) in an all-stock transaction assigning Lumentum an implied enterprise value of $115 billion, the companies announced on Nov. 2.
Share exchange and approvals
Lumentum shareholders would receive a fixed 4.5 Marvell common shares for each Lumentum common share at closing. Both companies’ boards unanimously approved the agreement.
The companies expect the transaction to close in the first half of calendar 2028. It remains subject to approval by both groups of shareholders, regulatory clearances and other customary closing conditions.
Sources: Marvell’s official announcement, released Nov. 2, 2026; BlockBeats flash, published the same day at 12:12 UTC.