Marvell Technology shares fall 2.29% intraday after Infineon Technologies AG acquired its Automotive Ethernet Business.

Marvell Technology, Inc. declined 2.29% in intraday trading, following the news that Infineon Technologies AG completed the acquisition of Marvell's Automotive Ethernet Business for $2.5 billion. This transaction, which includes Marvell's Brightlane® Automotive Ethernet portfolio and related assets, is expected to be finalized in an all-cash deal. The acquisition was approved by Marvell's Board of Directors and is likely to impact the company's future earnings and market position.