Marvell's $115B Lumentum deal has few backers beyond Jensen Huang

Marvell Technology announced an all-stock acquisition of optical components maker Lumentum at an implied enterprise value of $115 billion, with closing expected in the first half of 2028. Jensen Huang, Nvidia's CEO and investor in both companies, has publicly endorsed the deal, but market observers have raised concerns.

Financial details include a $5.8 billion break fee if Marvell walks away. Analysts question the all-stock structure and the extended timeline to close, according to reporting from Yahoo Finance's business news team.