Based on Thursday’s closing prices, Lumentum’s $509.70 share price was 15.19% below the $600.98 implied value.
Lumentum closed at $509.70, while Marvell finished at $133.55, down 16.43%. At that price, 4.5 Marvell shares were worth $600.98 for each Lumentum share. The difference was $91.28, putting Lumentum’s price 15.19% below the implied value. The gap had been 12.84% Wednesday.
The companies announced the fixed share-exchange terms on Nov. 2. The agreement sets the consideration at 4.5 Marvell shares for each Lumentum share. Because the deal fixes the number of shares rather than a cash amount, the implied dollar value changes with Marvell’s share price.
The $600.98 figure is a market-value comparison based on Thursday’s close, not a cash payment. The companies expect the transaction to close in the first half of 2028, subject to shareholder and regulatory approvals.
