Unsolicited Mini-Tender Offer by TRC for Marvell

Marvell Technology Group Ltd. has received notification of an unsolicited mini-tender offer by TRC Capital Corporation (TRC) to purchase up to 6 million shares of Marvell Technology Group common stock, or approximately 1 percent of the company’s outstanding common stock, at a price of $15 per share.

The offer price was 4.94 percent below the closing price on March 22, 2012, the approximate date of commencement of the offer.

Marvell does not endorse TRC’s mini-tender offer and recommends that shareholders do not tender their shares. It is not associated with TRC, or this unsolicited offer.

TRC has made similar, unsolicited mini-tender offers for shares of other publicly-traded companies. Mini-tender offers are designed to seek to acquire less than five percent of a company’s outstanding shares, thereby avoiding many disclosure and procedural requirements of the SEC. As a result, mini-tender offers do not provide investors with the same level of protections as provided by larger tender offers under United States securities laws.

The SEC has cautioned investors about mini-tender offers, noting that "some bidders make mini-tender offers at below-market prices, hoping that they will catch investors off guard if the investors do not compare the offer price to the current market price." The SEC’s Investor Tips regarding mini-tender offers may be found on the SEC’s website.

Marvell encourages brokers and dealers, as well as other market participants, to review the SEC’s letter regarding broker-dealer mini-tender offer dissemination and disclosure.