Why Marvell Stock Is Down Today

 

Key Points

• Marvell shares fell after Bloomberg reported that the chipmaker is in advanced talks to acquire Lumentum.

• The deal is expected to be all stock, according to Bloomberg, which would dilute existing Marvell shareholders.

• Lumentum could expand Marvell’s optics business, but the deal’s price and other terms remain unknown.

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Marvell Technology(NASDAQ:MRVL) stock is sinking, down 13.9% as of 2:44 p.m. ET on Thursday, Oct. 29, after a report said the chipmaker is close to buying a big optics supplier.

The S&P 500and the Nasdaq Composite were down 0.7% and 1.7%, respectively.