Lumentum Hldgs Inc Stock Price, News & Analysis

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.

Coherent, Inc. (NASDAQ: COHR) announced on March 12, 2021, that its board has determined a revised acquisition proposal from II-VI Incorporated (NASDAQ: IIVI), received on March 11, to be a 'Company Superior Proposal.' This proposal offers $195.00 in cash and one share of II-VI common stock for each share of Coherent. Consequently, Coherent intends to terminate its current merger agreement with Lumentum Holdings Inc. (NASDAQ: LITE) unless Lumentum presents a more favorable proposal by March 17, 2021. Financial and legal advisors involved include Bank of America and Credit Suisse.

Lumentum Holdings announced an amendment to its acquisition agreement with Coherent, approving a cash and stock transaction. Coherent stockholders will receive $175 in cash and 1.0109 shares of Lumentum stock per share. This totals $261.62 per Coherent share as of March 9, 2021. The deal aims to diversify Lumentum's revenue streams, with expected annual synergies of over $190 million within three years. The transaction's closing is anticipated in the second half of 2021, pending regulatory and stockholder approvals.

Coherent, Inc. (NASDAQ: COHR) announced a revised merger agreement with Lumentum Holdings Inc. (NASDAQ: LITE) on March 10, 2021. The agreement states that each share of Coherent common stock will be exchanged for $175.00 in cash and 1.0109 shares of Lumentum stock at closing. The deal requires approval from both companies' stockholders and regulatory approvals in China and South Korea. Coherent's board recommends shareholders vote in favor of the merger, expected to close in the second half of 2021.

Lumentum Holdings Inc. received notice from Coherent, Inc. regarding an unsolicited acquisition proposal from II-VI Incorporated, which Coherent's Board deemed a "Company Superior Proposal" under its existing merger agreement with Lumentum. Coherent intends to terminate the merger agreement, requiring a $217.6 million termination fee if it proceeds with II-VI. Lumentum will review the proposal, having four business days to respond. Despite this, Lumentum's Board continues to recommend the merger with Coherent to its stockholders.