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Coherent’s board of directors will engage in discussions with II-VI, in response to II-VI’s unsolicited proposal to acquire Coherent. II-VI issued a purchase offer worth approximately $6.4 billion.
II-VI’s Coherent bid followed an unsolicited offer from MKS Instruments, worth approximately $6 billion. Both the II-VI and the MKS offers followed Coherent’s announcement on Jan. 19 that it had entered into a merger agreement with Lumentum Holdings pursuant to which Lumentum agreed to acquire Coherent in a transaction worth $5.7 billion.
Coherent’s board of directors has not determined whether II-VI’s acquisition proposal is superior to Coherent’s pending Lumentum transaction. After conducting a…READ MORE