II-VI Joins Lumentum and MKS Instruments in Bidding War for Coherent; II-VI Offers $260 per Share - IDEX Health & ScienceIDEX Health & Science

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    II-VI Joins Lumentum and MKS Instruments in Bidding War for Coherent; II-VI Offers $260 per Share

    Article obtained from Photonics RSS Feed.

    II-VI has made an offer to acquire Coherent in a cash and stock transaction, after MKS offered its bid to acquire the laser pioneer on Monday. Under the terms outlined in a letter to Coherent’s board of directors, Coherent shareholders would receive $130 in cash and 1.3055 II-VI common shares for each Coherent share. Based on closing price of II-VI shares on Feb. 11, the proposal is valued at $260 per Coherent share. II-VI’s bid follows an initial proposal from Lumentum, which was then followed by a competing offer from MKS.

    II-VI’s proposal represents a premium of 24% to the implied value of Coherent’s merger agreement with Lumentum, based on Lumentum’s closing share price Feb. 11, and a 9.8% premium to…

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    Feb, 12 2021 |

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