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Coherent has again determined that a revised acquisition proposal from II-VI is superior to terms of an amended merger agreement with Lumentum. Coherent has informed Lumentum that it intends to terminate that merger agreement, into which the companies entered on March 9 (announced on March 10), should it not receive an amended agreement.
Terms of the new II-VI proposal, which is the fourth that Coherent has confirmed from II-VI, dictate that Coherent shareholders would receive $220 in cash and 0.91 of a share of Coherent common stock for each Coherent share.
The deal is worth approximately $7 billion.
The latest II-VI offer is in response to Coherent’s confirmation that it received, and that its board was…READ MORE