Marvell Technology to buy Cavium for $6 billion | Reuters

Reuters| Mon Nov 20 04:03:28 EST 2017
(Reuters) - Chipmaker Marvell Technology Group Ltd (MRVL.O) said on Monday it would buy smaller rival Cavium Inc (CAVM.O) in a deal valued at about $6 billion, as it seeks to gain scale in a semiconductor industry that is rapidly consolidating. Shares of Marvell were up 1 percent while shares of Cavium were up 7.7 percent in premarket trading. Under the deal, Marvell will offer $40.00 per share in cash and 2.1757 of its shares for each Cavium share. The exchange ratio was based on a purchase price of $80 per share, using Marvell’s undisturbed price prior to November 3, when media reports of the transaction first surfaced. Marvell’s offer represents a premium of 11 percent to Cavium’s close o..

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