Lumentum Holdings Shares Drop 8% Following Marvell Technology Acquisition Announcement
Lumentum Holdings (LITE) shares fell nearly 8% on Wednesday, closing at $626.75 after a decline of $53.41 per share. This downward movement follows the recent announcement that Marvell Technology intends to acquire Lumentum in an all-stock transaction. The acquisition is structured as an exchange ratio of 4.5 Marvell shares for each Lumentum share. The stock's continued retreat reflects market reactions to the deal structure and the implications of the merger between the two technology entities.
Topics: acquisition mergers and acquisitions stock price decline