Coherent Confirms Receipt Of Revised Acquisition Proposal From II-VI - Quick Facts

(RTTNews) - Coherent, Inc. (COHR) confirmed receipt of a revised acquisition proposal from II-VI Incorporated (IIVI). Under the terms of the revised proposal, each share of Coherent common stock would be exchanged for $220 in cash and 0.91 of a share of II-VI common stock. The Coherent board determined that II-VI's proposal is superior to the revised acquisition proposal that the company received from Lumentum on March 17.

Coherent has notified Lumentum that it plans to terminate the merger deal unless the company receives a revised acquisition proposal from Lumentum by March 22, 2021.

Lumentum's Board stated that it continues to recommend the transaction with Coherent to its stockholders.