Lumentum Hldgs Inc Stock Price, News & Analysis

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.

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.