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II-VI Joins Lumentum and MKS Instruments in Bidding War for Coherent; II-VI Offers $260 per Share

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PITTSBURGH, Feb. 12, 2021 — II-VI has made an offer to acquire Coherent in a cash and stock transaction, after MKS offered its bid to acquire the laser pioneer on Monday. Under the terms outlined in a letter to Coherent’s board of directors, Coherent shareholders would receive $130 in cash and 1.3055 II-VI common shares for each Coherent share. Based on closing price of II-VI shares on Feb. 11, the proposal is valued at $260 per Coherent share. II-VI’s bid follows an initial proposal from Lumentum, which was then followed by a competing offer from MKS. II-VI’s proposal represents a premium of 24%...Read full article

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    Published: February 2021
    BusinessLaserssemiconductorsacquisitionsproposalproposalsII-VICoherentLumentumMKSMKS Instrumentsmergers & acquisitionsAmericas

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