Lumentum is trading at $637.09 (-7.15%) amid continued skepticism about Marvell’s all-stock acquisition terms.
- Lumentum shareholders would receive a fixed 4.5 Marvell shares per share, leaving the deal’s value dependent on Marvell stock.
- Reports cite concerns over the exchange ratio, the long wait to closing and regulatory approval; analysts have cut targets or downgraded shares. Broad indexes and semiconductor stocks were higher, suggesting the weakness is company-specific.