Lumentum Hldgs Inc Stock Price, News & Analysis

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.

Lumentum Holdings announces the launch of new high-power, high-efficiency five and six junction VCSEL arrays for 3D sensing and LiDAR applications. These innovations achieve over 800 W of peak power in a compact form, enhancing performance in consumer electronics, automotive, and industrial sectors. Dr. André Wong emphasizes that these advancements are crucial for increased LiDAR functionality. The arrays are designed for high-volume production, leveraging established manufacturing capabilities. Lumentum will showcase these products at the SPIE Photonics West 2021 Digital Forum, happening March 6-11, 2021.

Lumentum Holdings announced participation in three significant industry events to showcase its advanced solutions for 3D sensing and laser markets. The events include the SPIE Photonics West 2021 from March 6-11, where Lumentum experts will present innovative photonic technologies, the LASER World of PHOTONICS CHINA 2021 from March 17-19, featuring their latest laser innovations, and the SPIE AR, VR, MR Digital Forum from March 28-31, focusing on augmented and virtual reality. Lumentum aims to highlight its role in next-generation 3D sensing applications across various sectors.

Lumentum Holdings announced its participation in several upcoming virtual investor events. Key events include:

• Morgan Stanley Technology, Media and Telecom Conference on March 2, 2021, at 9:30 a.m. ET.
• Raymond James 41st Annual Institutional Investors Conference on March 3, 2021, at 10:50 a.m. ET.
• Susquehanna Tenth Annual Technology Conference on March 9, 2021, from 9:40 a.m. to 4:15 p.m. ET.
• Loop Capital's Inaugural Investor on March 12, 2021, from 9:30 a.m. to 3:00 p.m. ET.

Webcasts will be available on Lumentum's investor relations website.

Lumentum announced that its San José headquarters will now run on San José Clean Energy's 100% renewable energy service, TotalGreen. This partnership reflects Lumentum's commitment to sustainability, aiming for net-zero emissions globally by 2030. The initiative aligns with the City of San José's goal of achieving 100% renewable energy by 2050. Lumentum plans to release its first external sustainability report in 2021, outlining its Environmental, Social, and Corporate Governance (ESG) objectives.

Lumentum Holdings has issued a statement regarding MKS Instruments' unsolicited acquisition proposal for Coherent, asserting that the proposal is misleading and fraught with regulatory risks. Lumentum emphasizes that its agreed merger with Coherent provides a more secure path to completion, promising to tackle antitrust regulations effectively. MKS's proposal lacks necessary commitments to mitigate significant overlaps, which could lead to value loss for Coherent shareholders. The definitive agreement between Lumentum and Coherent includes a $100.00 cash payment and 1.1851 Lumentum shares per Coherent share, anticipated to finalize in the latter half of 2021.

Lumentum Holdings has announced its definitive agreement to acquire Coherent, which is expected to create a leading photonics technology company. Coherent shareholders will receive $100 per share plus 1.1851 shares of Lumentum common stock. The transaction, anticipated to close in the second half of 2021, seeks regulatory and shareholder approvals. Lumentum aims to innovate and expand in the photonics sector, contrasting MKS Instruments' proposal with a clearer path to completion. Deutsche Bank is advising Lumentum on this strategic move.