Coherent To Enter Into New Merger Deal With II-VI

(RTTNews) - Coherent, Inc. (COHR) said the company is terminating the March 9, 2021 merger agreement between Coherent and Lumentum and paying Lumentum the $217.6 million termination fee in order to enter into a new merger agreement with II-VI. The board of Coherent has determined that the acquisition proposal from II-VI (IIVI) on March 17, 2021 continues to be a Superior Proposal after giving due consideration to the revised acquisition proposal received from Lumentum on March 22, 2021.

As per the terms of merger deal, each share of Coherent common stock will be exchanged for $220.00 in cash and 0.91 of a share of II-VI common stock at completion. The transaction is expected to close in the fourth quarter of 2021.