MRVL short - LITE long pair trade

Marvell ($MRVL) has announced they will be buying Lumentum ($LITE) subject to approvals and clearance with expected closing date some time in 2028. As part of the deal, Lumentum shareholders get 4.5 MRVL stock for every stock of LITE. Both stocks have tanked following the news because MRVL shareholders believe this acquisition isn't worth the dilution while LITE shareholders believe they should be getting a better deal/valuation given the recent results MRVL is currently trading at $158, so assuming the acquisition closes, LITE should trade at $711 (4.5x $158). However, LITE shares are actually trading at a 15% discount to that at $606. If the deal closes, ideally LITE share price should move closer to 4.5x of MRVL stock. If the deal doesn't close either because their shareholders feel they should get a better valuation, LITE should go up more than MRVL because of their financial position combined with the fact that their stock has dropped more than MRVL on the recent news. In such a scenario, is it worth considering a pair trade of: Buy 2 LITE stock Sell 9 MRVL stock Edit: Opened a trade, will update folks when I close Long 50 LITE @608 Short 225 MRVL @158