SOURCE Marvell Technology Group Ltd.During its fiscal Q2 2019 earnings conference call, Marvell will provide an update on Cavium's contribution to its second fiscal quarter and third fiscal quarter combined guidance. Marvell (MRVL) will soon complete its previously announced acquisition of Cavium after receving final clearance from China's State Administration for Market Regulation.
The merger was finalized on July 6, 2018. Acquisition. Bloomberg the Company & Its Products The Company & its Products Bloomberg Terminal Demo Request Bloomberg Anywhere Remote Login Bloomberg Anywhere Login Bloomberg Customer Support Customer Support In the last two years, the chip industry has witnessed a series of deals as companies try to gain market share in emerging areas such as automotive technologies and connectivity.The exchange ratio was based on a purchase price of $80 per share, Marvell’s share price prior to the first media report of the transaction on Nov. 3.“With Marvell facing secular challenges on its core chip business, this acquisition is a smart strategic move which puts the company in a stronger competitive position for the coming years,” said GBH Insights analyst Daniel Ives.Goldman Sachs & Co LLC was the financial adviser to Marvell, while Qatalyst Partners LP and J.P. Morgan Securities LLC were the financial advisers to Cavium.Marvell’s offer of $84.15 - based on the stock’s close on Friday - represents a premium of 11 percent to San Jose, California-based Cavium’s close, according to a Reuters calculation.Analysts say the new leadership is preparing a number of important new product launches for later this year after refreshing 25 products in 18 months.Murphy last year replaced former CEO Sehat Sutardja and President Weili Dai - a husband-wife team who co-founded the company - after an audit committee questioned their management style and hedge fund investor Starboard Value LP made a host of demands.Marvell will offer $40 per share in cash and 2.1757 of its shares for each Cavium share.The chipmaker plans to fund the deal with a combination of cash on hand from the combined companies and $1.75 billion in debt financing, the company said.Chief Executive Matthew Murphy, who took the top job a year ago, has been focusing on Marvell’s networking business to counteract declining demand for its chips used in hard disk drives of personal computers.Shares of Marvell were down 0.8 percent to $20.14, while Cavium was up 7 percent at $81.14 in early trading.Reporting by Sonam Rai and Laharee Chatterjee in Bengaluru; Editing by Arun KoyyurThe deal is Murphy’s first acquisition at the company.The most recent is a bid by Wi-Fi chipmaker Broadcom for rival Qualcomm for a whopping $103 billion in what could be one of the biggest technology deals ever. References The foregoing review of important factors should not be construed as exhaustive. Syed Ali was a co-founder of Cavium and served as its President, Chief Executive Officer and Chairman of the Board of Directors since the company’s launch in 2000. マーベルテクノロジー （Marvell Technology）、カビウム （Cavium） の買収を完了 ＜ご参考資料＞ *2018 年 7 月 6 日に米国で発表された資料の抄訳です。 Santa Clara, California (July 6, 2018) – カリフォルニア州サンタクララ （2018 年 7 月 6 日 ） –マーベルテクノロジーグループ （Marvell … SANTA CLARA, Calif., July 6, 2018 /PRNewswire/ -- Marvell Technology Group Ltd. (NASDAQ: MRVL) today announced the completion of its acquisition of Cavium, Inc. Marvell’s offer of $84.15 - based on the stock’s close on Friday - represents a premium of 11 percent to San Jose, California-based Cavium’s close, according to a Reuters calculation. Forward-looking statements speak only as of the date they are made. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. SANTA CLARA, Calif. and SAN JOSE, Calif., Nov. 20, 2017 /PRNewswire/ -- Marvell Technology Group Ltd. (NASDAQ: MRVL) and Cavium, Inc. (NASDAQ: 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 … In November 2017, Cavium's board of directors agreed to the company's purchase by Marvell Technology Group for $6 billion in cash and stock. Marvell also announced that Syed Ali, Brad Buss and Dr. Edward Frank have been appointed to the Marvell Board of Directors, effective immediately after the closing of the acquisition.
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