Marvell's $115B Lumentum Deal Sank Both Stocks (Nov 2, 2026)
Marvell agreed on Mon, Nov 2, 2026 to buy Lumentum in an all-stock deal with an implied enterprise value of $115 billion.
· 116 views · YouTube video: Marvell's $115B Deal Just Sank Both Stocks
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Quick overview
- Marvell agreed on November 2, 2026, to buy Lumentum in an all-stock deal valued at $115B.
- Usually the target jumps. Instead Lumentum fell more than 15% and Marvell more than 10%.
- At 4.5 Marvell shares each, the offer was about $1,130 a share before the news. Now it is under $800.
- $115B Implied enterprise value, all stock
- −15%+ Lumentum on Nov 2, 2026
- −10%+ Marvell on Nov 2, 2026
What happened
Marvell agreed on Monday, November 2, 2026, to buy Lumentum in an all-stock deal with an implied enterprise value of $115 billion. Lumentum holders get 4.5 Marvell shares for each share. Based on October 28 prices, that was about $1,132 per Lumentum share, a premium of about 23.9%.
Why it matters
Instead of jumping, Lumentum fell more than 15% and Marvell more than 10%. Because the deal is paid in stock, a falling Marvell price shrinks the offer to under $800 per share. Same deal, over $300 less.
Watch the 30-second short to see how the same deal lost over $300 a share.
FAQ
Why did Lumentum stock fall after the Marvell deal?
The deal is all stock, and Marvell fell more than 10%, so the offer is now worth under $800 per share instead of about $1,130.
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