Marvell Technology surges as SoftBank said to have explored takeover

(Sharecast News) - Marvell Technology shares surged in pre-market trade on Thursday following a report that SoftBank explored a takeover of the US chipmaker earlier this year. According to Bloomberg, which cited people familiar with the matter, SoftBank founder Masayoshi Son considered merging Marvell with Arm Holdings, the British chip designer under SoftBank's control, to create a powerhouse for the AI era.

It was understood that SoftBank made overtures to Marvell several months ago, but the two sides couldn't reach an agreement on terms.

Marvell designs and develops semiconductor chips and related technologies for data centres.

At 1220 GMT, Marvell shares were up 8.3% in pre-market trade at $100.61.