Marvell Technology Inc Stock Price, News & Analysis

On April 20, 2021, Marvell Technology Inc. (NASDAQ: MRVL) completed the acquisition of Inphi Corporation, merging both companies under Marvell Technology Group Ltd. The Merger Effective Date was marked at 4:01 p.m. Eastern Time. Inphi shareholders received 2.323 shares of MTI and $66.00 in cash per Inphi share. The merger also triggered a Make-Whole Fundamental Change for Inphi's noteholders, allowing them to convert their convertible senior notes into cash and MTI shares during a specified period ending on June 1, 2021.

Marvell Technology (MRVL) has completed its acquisition of Inphi Corporation, creating a stronger semiconductor player in data infrastructure. This strategic move aims to enhance Marvell's capabilities in key growth areas such as 5G, Cloud, and Automotive technologies. Dr. Ford Tamer, former Inphi CEO, joins Marvell's Board of Directors, bringing extensive leadership experience. The financial impact of Inphi's contributions will be detailed in Marvell's upcoming earnings call scheduled for June 7, 2021.

Marvell Technology Group Ltd. (NASDAQ: MRVL) announced that its subsidiary, Marvell Technology, Inc. (MTI), obtained consents from a majority of holders of its 4.200% Senior Notes due 2023 and 4.875% Senior Notes due 2028. The consents will allow Marvell to amend the indenture governing these notes, eliminating restrictive covenants and certain events that could lead to an 'Event of Default.' The Exchange Offers will expire on April 30, 2021, with anticipated settlement around May 4, 2021, as part of the company's acquisition of Inphi Corporation, expected to close on April 20, 2021.

Marvell Technology Group Ltd. (NASDAQ: MRVL) has received overwhelming shareholder approval for its acquisition of Inphi Corporation (NASDAQ: IPHI) and plans to reorganize the combined company in the U.S. Over 99% of voters supported these initiatives during recent meetings. Inphi's shareholders also approved the merger. Marvell anticipates closing the transaction around April 20, 2021, pending customary conditions. This acquisition is expected to enhance Marvell's data infrastructure technology capabilities and market position.

Marvell Technology Group Ltd. (NASDAQ: MRVL) announced the closing of a $2 billion Senior Notes Offering through its subsidiary, Marvell Technology, Inc. The offering includes $500 million of 1.650% Senior Notes due 2026, $750 million of 2.450% Senior Notes due 2028, and $750 million of 2.950% Senior Notes due 2031. The proceeds will primarily fund the acquisition of Inphi Corporation, expected to close in April 2021, pending necessary shareholder approvals. These notes will accrue interest semi-annually, beginning October 15, 2021.

Marvell Technology Group Ltd. (NASDAQ: MRVL) announced private exchange offers for up to $500 million of its 4.200% Senior Notes due 2023 and 4.875% Senior Notes due 2028. The offers are linked to the anticipated acquisition of Inphi Corporation, aimed for April 2021. Eligible holders can exchange for new MTI Notes of the same amounts, with early participation bonuses for timely submissions. The exchange is conditioned on the merger's completion and will expire on April 30, 2021. Consent solicitations are also underway to amend existing indentures.

Marvell Technology Group Ltd. announced the pricing of a $2 billion Senior Notes Offering through its subsidiary, Marvell Technology, Inc. The offering includes $500 million in 1.650% Senior Notes due 2026, $750 million in 2.450% Senior Notes due 2028, and $750 million in 2.950% Senior Notes due 2031. Proceeds will primarily fund the acquisition of Inphi Corporation, scheduled to close in April 2021, pending shareholder approvals. The offering is expected to finalize by April 12, 2021, under Rule 144A and Regulation S of the Securities Act.

On March 25, 2021, Samsung Electronics and Marvell (NASDAQ: MRVL) jointly announced the development of a new System-on-a-Chip (SoC) aimed at enhancing 5G network performance. Designed for Samsung's Massive MIMO and advanced radios, the SoC is set for market introduction in Q2 2021. It supports both 5G and 4G networks, boasting a significant 70% reduction in power consumption compared to previous solutions. This collaboration highlights the ongoing partnership between the two companies to drive innovation in 5G technology.

Marvell Technology Group and Inphi Corporation have set dates for shareholder votes regarding Inphi's acquisition by Marvell. Marvell's vote will occur on April 15, 2021, at 2:00 p.m. PT, while Inphi's vote is scheduled for the same day at 10:00 a.m. PT. Both companies' boards recommend shareholders vote 'FOR' the merger, which aims to integrate Marvell's semiconductor solutions with Inphi's data movement technologies, enhancing their position in the cloud and 5G markets.