Marvell nears deal for optical supplier Lumentum to bolster hardware, report says

Investing.com -- Shares of Lumentum Holdings Inc (NASDAQ:LITE) surged more than 9% in extended trading Wednesday after Bloomberg reported that chipmaker Marvell Technology Inc (NASDAQ:MRVL) is in advanced discussions to acquire the optical equipment supplier. Meanwhile, Marvell stock dropped over 7% as investors weighed the financial implications of what would rank among the year’s largest semiconductor sector combinations.