Lumentum Hldgs Inc Stock Price, News & Analysis

Coherent, Inc. has accepted an acquisition proposal from II-VI Incorporated, deemed a "Company Superior Proposal" over Lumentum Holdings. Coherent's board evaluated both proposals and opted to terminate the merger agreement with Lumentum, incurring a $217.6 million termination fee. Under the new agreement with II-VI, each Coherent share will convert to $220 in cash and 0.91 shares of II-VI stock. The deal awaits stockholder and regulatory approval, with closing expected in Q4 2021.

Lumentum Holdings Inc. announced the termination of its merger agreement with Coherent, Inc., which requires Coherent to pay a $217.6 million termination fee. Coherent's Board opted for an inferior offer from II-VI Incorporated, whose proposal was valued at $281.21, compared to Lumentum's superior bid worth $283.12. Lumentum's offer included $230 in cash and stock, while II-VI's consisted of $220 in cash and shares. The news emphasizes Lumentum's commitment to pursuing strategic acquisitions amid competitive offers.

Lumentum Holdings Inc. (LITE) announced recognition for its 100G PAM4 uncooled electro-absorption modulated lasers in the 2021 Lightwave Innovation Reviews. This honor highlights the lasers' high performance and low power consumption, crucial for next-generation hyperscale data centers. The company aims to support digital transformation while minimizing climate impact. Senior VP Walter Jankovic emphasized the significance of their first-to-market EML chips in enabling efficient data transmission. Lumentum's innovations continue to lead the optical communications sector.

Lumentum Holdings has presented a revised acquisition proposal for Coherent involving $230.00 per share in cash and 0.6724 shares of Lumentum stock, totaling approximately $287.50 per Coherent share. The proposal remains open until March 24, 2021. Lumentum plans to finance the cash component through available cash, a new $3.25 billion debt facility, and a $1 billion equity investment from Silver Lake. The acquisition awaits stockholder and regulatory approvals, aiming for closure in H2 2021.

On March 23, 2021, Coherent announced a new acquisition proposal from Lumentum, offering $230 in cash and 0.6724 shares of Lumentum per share of Coherent. This proposal follows II-VI's superior offer of $220 and 0.91 shares per Coherent share, received on March 17, 2021. Coherent's board will review Lumentum's offer against II-VI's. The transaction is subject to stockholder and regulatory approvals in China and South Korea. The Hart-Scott-Rodino waiting period has expired, but no assurance exists that Coherent will accept Lumentum's proposal.

Lumentum Holdings received notice from Coherent's Board that an acquisition proposal from II-VI is deemed a 'Company Superior Proposal' under their merger agreement from March 9, 2021. Coherent plans to terminate this agreement, which would incur a $217.6 million termination fee to Lumentum. Lumentum has until March 22, 2021, to amend or waive its rights concerning the proposal. Despite this situation, Lumentum's Board continues to recommend the merger with Coherent.

Lumentum Holdings has submitted a revised proposal to acquire Coherent, valued at $6.9 billion, offering Coherent shareholders $220.00 in cash and 0.6100 shares of Lumentum common stock for each Coherent share. This equates to $275.00 per Coherent share based on Lumentum's recent stock price. Silver Lake will invest $1 billion in the combined entity. The merger could lead to significant synergies, estimated at $219 million to $244 million annually. The transaction awaits approval by shareholders and regulatory bodies, expected to close in late 2021.

Coherent, Inc. (NASDAQ: COHR) has received a new acquisition proposal from Lumentum Holdings Inc. (NASDAQ: LITE). The offer includes $220.00 in cash and 0.61 shares of Lumentum stock for each share of Coherent. This proposal, needing stockholder and regulatory approvals, comes after Coherent's board considered a previous offer from II-VI valued at $195.00 in cash and 1.0 share of II-VI stock. Coherent's board will review Lumentum's proposal against II-VI's to determine the best course of action for shareholders.

Lumentum Holdings Inc. announced that Coherent's Board deemed an unsolicited acquisition proposal from II-VI Incorporated as a 'Company Superior Proposal' under a prior merger agreement. Coherent intends to terminate its agreement with Lumentum, which was established on March 9, 2021. Lumentum has until March 17, 2021, to amend the transaction agreement. If Coherent proceeds with II-VI, it must pay a termination fee of $217.6 million to Lumentum. The Lumentum Board continues to recommend the merger with Coherent to its shareholders.