Marvell jumps after Bloomberg reports that SoftBank explored a potential takeover of the company earlier this year
Marvell Technology is trading more than 9% higher on Thursday morning after Bloomberg reported that investment giant SoftBank flirted with the idea of potentially taking over the US chipmaker earlier this year.
Citing people familiar with the matter, Bloomberg added that SoftBank’s billionaire founder, Masayoshi Son, has been evaluating Marvell as a possible target for years, with the idea of combining the company with UK chip designer Arm Holdings, of which it owns a majority stake. Marvell specializes in taking chip design elements, like those offered by SoftBank’s Arm, and bringing them together into final blueprints that manufacturers can put into production.
Per Bloomberg, the two sides were unable to reach an agreement after the Japanese conglomerate made overtures several months ago, and they’re not currently in active negotiations.
Marvell’s stock has shed 18% so far this year, before this latest uptick, in contrast to the massive gains of many of its chipmaking peers.
Citing people familiar with the matter, Bloomberg added that SoftBank’s billionaire founder, Masayoshi Son, has been evaluating Marvell as a possible target for years, with the idea of combining the company with UK chip designer Arm Holdings, of which it owns a majority stake. Marvell specializes in taking chip design elements, like those offered by SoftBank’s Arm, and bringing them together into final blueprints that manufacturers can put into production.
Per Bloomberg, the two sides were unable to reach an agreement after the Japanese conglomerate made overtures several months ago, and they’re not currently in active negotiations.
Marvell’s stock has shed 18% so far this year, before this latest uptick, in contrast to the massive gains of many of its chipmaking peers.
