InsideArbitrage Event Driven Monitor – November 3, 2026

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Merger Arbitrage

1. LITE: The acquisition of Lumentum Holdings Inc. (LITE) by Marvell Technology, Inc. (MRVL) for a closing value of $115 billion. Lumentum stockholders will receive a fixed exchange ratio of 4.5 shares of Marvell common stock for each share of Lumentum common stock they own, representing approximately $883.80 per Lumentum share, at a 5.13% premium over the stock’s last close. Last week, Bloomberg reported that Marvell was in advanced talks to buy Lumentum. (Press Release)
2. VECO: Axcelis (ACLS) and Veeco (VECO) now expect the merger to close by the end of the first quarter of 2027. The merger still requires regulatory approval from the State Administration for Market Regulation of the People’s Republic of China (SAMR). The HSR waiting period will expire on November 28, 2025, so the companies plan to submit a new filing under the HSR Act promptly.
3. HUN: Huntsman (HUN) CEO Peter Huntsman said that they now expect to close the merger in the first quarter of 2027.

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