Marvell stock slides after $540 million XConn deal as MRVL doubles down on AI data-center switching
Marvell shares fell 2.2% to $88.23 after announcing a $540 million cash-and-stock deal to acquire XConn Technologies. The stock was little changed in after-hours trading. Melius Research upgraded Marvell to “buy,” while a company officer filed to sell 5,000 shares worth about $465,400.