U.S. stocks pre-market: MRVL and LITE turned from gains of about 4% to a decline of nearly 1%.

BlockBeats news, November 2 — According to data from the BIT stock platform, after Marvell Technology announced its all-stock acquisition of optical communications company Lumentum, both stocks fell in pre-market trading: MRVL was at about $195, down nearly 0.71%; LITE was at about $830, down more than 1.2%.

According to Marvell's investor press release on its official website, Lumentum shareholders will receive 4.500 shares of Marvell common stock for each share, corresponding to an implied enterprise value for Lumentum of about $115 billion, or about $1,132 per share, representing a premium of about 23.9% over the unaffected closing prices of both parties on October 28. After closing, on a fully diluted basis, existing Marvell shareholders will hold about 67%, and Lumentum shareholders about 33%. The transaction is expected to close in the first half of 2028, subject to approval by both companies' shareholders and customary regulatory and other conditions. Current Chairman and CEO Matt Murphy will continue to serve, and three Lumentum directors will join the combined company's board.