Marvell Technology is trading 10.80% down now at $13.13 after investors reacted negatively to its November 2 announcement of an all-stock agreement to acquire Lumentum.
- The deal has an implied enterprise value of $115 billion.
- Reuters reported Marvell fell more than 10% as analysts questioned whether the company was stretching itself with the transaction.
- Broader semiconductor weakness added pressure, with sector reporting citing fallout from Intel and Amazon results.