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II-VI will enter into a definitive agreement with Coherent, allowing the Pittsburgh-based optical components and semiconductor materials manufacturer to acquire Coherent. The deal is worth around $7 billion.
Accordingly, Coherent said, it is terminating a merger agreement with Lumentum, which the two companies entered on March 9. Coherent will now pay Lumentum a termination fee of more than $200 million.
Per terms of the II-VI/Coherent merger agreement, each share of Coherent common stock will be exchanged for $220 in cash and 0.91 of a share of II-VI common stock.
Both companies, in separate press releases, said they expect the deal to close in the fourth quarter of 2021. II-VI said that it expects the combined company…READ MORE