Marvell announced its acquisition of Lumentum, and shares of both companies fell in pre-market trading.

On November 2, Marvell, a leading US-listed optical module manufacturer, announced its acquisition of Lumentum, a leading optical chip manufacturer, in an all-stock transaction. Marvell's stock price fell 1.48% in pre-market trading, while Lumentum's stock price fell 2.99% after trading resumed.