Marvell Technology agreed on Monday, November 2, to buy Lumentum, a maker of high-performance lasers, in an all-stock deal valued at $115 billion. The companies expect the purchase to close in the first half of 2028. CNBC’s session account said Marvell shares dropped almost 13 percent and Lumentum shares shed 18 percent. A separate midday note showed smaller declines, so the exact loss depends on the time of the quote.
The transaction is a bet on optical parts used in data-center and communications equipment. It is not a price cut for a phone, a computer, or a household internet bill, and it does not take effect this year. Closing still depends on the deal being completed in 2028. No customer price list was issued with the announcement.
Could this $115 billion deal lower what a household pays for a device now? No consumer price cut was announced. The verified step is an agreed stock purchase that is not expected to close until the first half of 2028.