SoftBank Group (SFTBY) weighed a potential takeover of Marvell (MRVL) earlier this year, Bloomberg’s Ryan Gould, Min-Jeong Lee, Liana Baker, and Dinesh Nair report. According to people familiar with the matter, SoftBank founder Masayoshi Son has been studying Marvell as a possible target on and off for years, as part of his efforts to bet on hardware that can benefit from the artificial intelligence boom. SoftBank made overtures to Marvell several months ago, but the two sides couldn’t reach an agreement on terms, the people say. SoftBank considered combining Marvell with Arm (ARM), the people note.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MRVL:
- Moderately bullish activity in Marvell with shares up 6.34%
- AI Daily: China bans foreign AI chips from data centers using state funds
- China bans foreign AI chips from data centers using state funds, Reuters says
- AMD, IONQ: Amazon Exits Stakes in Advanced Micro Devices and IonQ
- Mixed options sentiment in Marvell with shares down 2.8%