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II-VI has notified Coherent it is maintaining the terms of its current acquisition proposal. The proposal remains open until 12 p.m. Pacific time on Thursday, March 25.
The notification comes one day after Lumentum delivered its latest revised acquisition proposal to Coherent. That proposal, Lumentum said on March 23, will remain open until 11:59 p.m. Pacific time on Wednesday, March 24.
Under terms of the latest II-VI proposal, Coherent shareholders would receive $220 per share in cash and 0.91 of a share of II-VI common stock for each Coherent share. Under terms of the latest Coherent proposal, Coherent stockholders would receive $230 per share in cash and 0.6724 shares of Lumentum common stock for each Coherent share.