Lumentum's pre-market decline widens to 5.5%, Marvell Technology falls 3.3%

According to MSX.COM data, Lumentum's pre-market decline widened to 5.5%, while Marvell Technology fell 3.3%, Odaily reports.

It is reported that the merger agreement between Marvell and Lumentum includes a substantial termination fee. Under certain circumstances, if the transaction is terminated, Marvell would be required to pay Lumentum a termination fee of up to $5.8 billion; in some of these cases, the termination fee would be $3.2 billion. If Lumentum terminates the transaction under certain circumstances, it would be required to pay Marvell a termination fee of $2.9 billion. The aforementioned fees are triggered only under specific termination conditions stipulated in the agreement.