Lumentum Sell-Off After Marvell Offer Raises Chance of Alternate Bid
Lumentum, the optical networking component maker that Marvell Technology said on Monday it would buy, was swept up by Wednesday’s election-driven sell-off of stocks that have benefited most from the AI data center boom. But investors shouldn’t lose sight of the bigger picture—another bidder for Lumentum could emerge, or Marvell could come back and sweeten its proposal with more cash. Marvell’s proposed all-stock acquisition of Lumentum—which as of Tuesday valued the firm at around...