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Coherent confirmed it has received a buyout offer from II-VI that the Coherent board deems “superior” to terms of an amended merger agreement between it and Lumentum. The company today said its board determined that the revised acquisition proposal from II-VI, which builds on a previous revised proposal from II-VI, constituted a “Company Superior Proposal.”
Per terms of the latest proposal from II-VI, each share of Coherent common stock would be exchanged for $195 and one share of II-VI common stock at the completion of the transaction. Coherent said it once again has informed Lumentum it intends to terminate their amended merger agreement unless it receives a revised proposal from Lumentum by Wednesday, March…READ MORE