Laser manufacturer Coherent receives $6 bln takeover offer from MKS Instruments (Adds details on MKS’ offer, Lumentum’s response) Feb 8 (Reuters) – Coherent Inc said on Monday it had received an unsolicited offer from manufacturing devices maker MKS Instruments Inc to acquire the laser manufacturer in a $6 billion cash-and-stock deal.The offer values Coherent shares at $240 apiece, representing a premium of about 24% to the stock’s Friday close.Last month, optical fiber specialist Lumentum Holdings Inc said it would acquire Coherent in a $5.7 billion deal.MKS said its offer represents a premium of 16% to Lumentum’s proposal and includes a cash component of $115 compared to $100 in Lumentum’s offer.Coherent said its board has determined that MKS’ proposal could lead to a deal that is superior to its pending transaction with Lumentum and it would engage in further discussions with MKS.”We believe our transaction is superior,” Lumentum said in a statement, adding that the its deal has a clear path to regulatory approval and it remained committed to closing the deal in the second half of the year.
(Reporting by Ayanti Bera in Bengaluru; Editing by Vinay Dwivedi) First Published: 2021-02-08 16:25:13 Updated 2021-02-08 16:59:22
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