KKR & Co., which recently acquired a nearly 5 percent stake in Marvell Technology, has not reached out to the company recently — leaving executives wondering about the intentions of the buyout shop, The Post has learned.
KKR, it was reported earlier this month, was weighing a possible leveraged buyout of the $6.8 billion semiconductor maker. But no recent talks have taken place.
“There has been no recent meeting,” a source with direct knowledge of the situation said.
Marvell executives are in the dark as to KKR’s intentions, the source said.
It is rare for Henry Kravis’ firm to take such a small stake in a public company. In fact, it is the first time in recent memory it has done so.
KKR is prevented in its partnership agreement with its investors from making a hostile bid, but it can make an offer to see if the founders are interested.
Marvell’s CEO, in a conference call Thursday to discuss the company’s strong third-quarter performance, declined to discuss the possibility of being taken private.
Marvell shares jumped 8.5 percent Nov. 5, to $13.04 a share, when Bloomberg reported first the KKR move. On Thursday, the shares gained 4 percent, to $13.83.
KKR declined to comment.