Marvell Technology Group Ltd. (MRVL) is in advanced talks to combine with Cavium Inc.,(CAVM) according to people familiar with the matter, a deal that would create a chip maker worth some $14 billion.
Update(s):
November 19, 2017: Marvell Technology Group Ltd. (MRVL) is nearing a deal to buy chip maker Cavium Inc. (CAVM) for about $6 billion, an acquisition that would create a bigger and more well-rounded competitor to industry giants like Intel Corp. and Broadcom Ltd.
November 20, 2017: Marvell Technology Group Ltd. (MRVL) and Cavium, Inc. (CAVM) today announced a definitive agreement, unanimously approved by the boards of directors of both companies, under which Marvell will acquire all outstanding shares of Cavium common stock in exchange for consideration of $40.00 per share in cash and 2.1757 Marvell common shares for each Cavium share. Upon completion of the transaction, Marvell will become a leader in infrastructure solutions with approximately $3.4 billion1 in annual revenue.