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Coherent confirmed it has received a revised acquisition proposal from Lumentum. Per terms of the latest offer, which is the sixth confirmed offer from Lumentum, Coherent stockholders would receive $230 per share in cash and 0.6724 shares of Lumentum common stock for each Coherent share that they own.
Coherent and Lumentum both confirmed the latest proposal on Tuesday, March 23. It follows Coherent’s announcement on March 18 that its board had determined a revised proposal from II-VI to be superior to terms of a Lumentum merger agreement into which Coherent and Lumentum entered on March 9. The latest II-VI proposal calls for II-VI to acquire Coherent in a deal worth approximately $7 billion with each share of Coherent common…READ MORE