Monday, November 11, 2013
Marvell Technology Group (NASDAQ: MRVL) Could Rocket Higher on a Possible Buyout
Before the news was released, based on Marvell's market cap at Monday's close, a 5% stake in the company would have cost about $296 million. One source, who asked not to be identified, said KKR views MRVL as undervalued and had conversations with the firm's CEO, Sehat Sutardja.
The involvement of KKR, a firm that is known for its successful leveraged buyouts, now also makes such a move a possibility with MRVL. Other major holders of the stock are the CEO and his brother, with a combined 20% stake, and David Einhorn's Greenlight Capital, which owns 9%. (more)
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at 12:04 AM