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KKR reports stake in chipmaker Marvell

31
Dec
2013

(Reuters) – Private equity firm KKR & Co LLP has reported a 6.8 percent stake in chipmaker Marvell Technology Group Ltd, according to a regulatory filing. Marvell’s shares rose about 5 percent in extended trading after closing at $13.76 on the Nasdaq on Monday. KKR also said the firm may engage in discussions with the board and the company’s management that may include a merger or reorganization of the business. About 47 percent of Marvell’s revenue last year came from storage customers such as Western Digital Corp and Seagate Technology, for whom it makes chips used for reading and writing data on hard-disk and flash drives.

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