The 17:00 report · 2.11.2026
Today we focus on the mega-merger in the tech world, the political efforts to form a government, and the large-scale cyberattack affecting cooling infrastructure in Europe. These events reflect significant fluctuations in both the global market and the local and international political arenas.
Marvell to Acquire Lumentum in $115 Billion Deal for AI Data Centers
Chipmaker Marvell Technology has announced the acquisition of optical component firm Lumentum in a stock deal valued at approximately $115 billion, reflecting a 24% premium on Lumentum's pre-report share price. The move, first reported by Reuters and Naftemporiki, aims to increase competitiveness against Broadcom and expand the companies' potential target market to $550 billion. The deal represents a strategic bet on high-speed communication infrastructure for AI data centers, with anticipated annual savings of over $1 billion. Expected to close in the first half of next year, it is considered one of the largest transactions in the industry's history.
President Herzog to Begin Coalition Consultations with Smallest Parties
President Isaac Herzog will begin a round of consultations with Knesset factions on Wednesday regarding the mandate to form a government, unusually starting with smaller parties. Meanwhile, the political system is abuzz over recommendations for premiership: while Naftali Bennett and Avigdor Liberman have announced they will recommend Gadi Eisenkot, reports have emerged of talks between Likud and Ra'am, prompting an official response from Likud. The positions of these political blocs dictate the efforts to forge a parliamentary majority, as disagreement over candidates complicates the path to a clear decision at the President's residence.
Court Lifts Restrictions on Suspect in Ra'am Bribery Case
The court has ordered the release of Syaf Abu Riash from house arrest and lifted his restrictive conditions; he is suspected of involvement in an election bribery case linked to the Ra'am party. Abu Riash denied the allegations in a conversation with journalists, claiming no significant evidence was presented against him. This case arises alongside reports of Ra'am's political contacts with Likud figures, and the Israel Police has announced it is appealing the court's decision to release another suspect in the case to house arrest, indicating continued tension surrounding the ongoing legal investigation.
New Details on Marvell-Lumentum Deal: All-Stock Merger at 24% Premium
A sophisticated cyberattack targeting supermarket cooling systems has expanded to Luxembourg and Estonia, following incidents in Belgium, Sweden, and France. As in previous cases, the attackers breached refrigeration control systems and raised temperatures, a move threatening to spoil merchandise and cause significant financial losses for business owners. The identity of the attackers and the full extent of the damage have not yet been fully determined, but the attack on cooling infrastructure across multiple European countries indicates a coordinated operation against retail chains relying on digital management systems.
Supermarket Cyberattack Expands to Luxembourg and Estonia
The deal between Marvell and Lumentum is based on a stock swap and aims to strengthen the technological infrastructure required for the AI era. The merger is expected to create significant synergy, allowing both companies to increase their market share against major competitors, with the process slated for completion in the first half of 2027. Further technical details of the deal structure, reported by ynet and Globes, highlight the high importance companies place on the growing demand for fast connectivity in data communications, a move that could shift the landscape of competition in the chip and optical equipment sector in the coming years.
Written automatically from the Tevel reports linked in it.