Marvell Technology and Lumentum said in a joint announcement on November 2, 2026, that they had entered a definitive agreement for Marvell to acquire Lumentum in an all-stock transaction with an implied enterprise value of $115 billion, combining electrical and optical technologies for AI connectivity. Each Lumentum common share will convert into 4.500 Marvell common shares at closing, with cash paid in lieu of fractional shares. The companies put the implied value at approximately $1,132 per…