This excerpt taken from the MRVL 8-K filed Jan 13, 2006.
4. Unaudited pro forma combined net income per share
Shares used in the pro forma combined net income per share calculation reflect the addition of 980,499 shares of Marvell voting common stock estimated to be issued to QLogic as if they were outstanding from February 1, 2004. The 980,499 shares were determined in accordance with the APA whereby the issuance price was determined based on the average of the per share closing prices of Marvell common stock for the ten consecutive trading day period ending one trading day prior to the closing date and the $45.0 million aggregate fair market value of the common stock to be issued to QLogic under the APA. The closing date was November 4, 2005 and the price used to determine the number of shares to issue was $45.90 per share.