(RTTNews) - Coherent, Inc. (COHR) said the company's board has determined that a revised acquisition proposal the company received from II-VI (IIVI) on March 11, 2021 constitutes a Superior proposal under the terms of pending revised merger agreement with Lumentum Holdings Inc. (LITE). As per the revised proposal, each share of Coherent common stock would be exchanged for $195.00 in cash and 1.0 share of II-VI common stock.
Coherent has notified Lumentum that it plans to terminate the amended merger agreement unless the company receives a revised proposal from Lumentum by March 17, 2021.
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