Marvell Technology (MRVL) Said Close to Hiring Goldman After Rebuffing China Bids - Bloomberg

October 28, 2016 6:36 AM EDT

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(Updated)

Marvell Technology (NASDAQ: MRVL) is close to hiring Goldman Sachs as an adviser after replacing its CEO and rejecting bids from a Chinese investor group, according to Bloomberg, citing people with knowledge of the matter. The company was approached by Montage Technology Group, the report said.

Bids by the Montage consortium were below Marvell's closing price on Thursday, and were rejected for being too low. There are no active talks between Montage and Marvell.



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