Coherent agrees to the cash and inventory agreement of II-IV

Laser technology company Coherent COHR,
-0.18%
said on Thursday that he had agreed to an agreement to buy cash and supplies from manufactured materials and manufacturers of optoelectronic components II-VI IIVI,
+ 2.14%.
Under the terms of the agreement, each share of Coherent Ordinary Shares will be exchanged for $ 220 in cash and 0.91 shares of II-VI shares upon completion, which is expected in the fourth quarter of 2021. In doing so, Coherent said it would terminate the 9-year agreement. March 2021 with Lumentum LITE,
-4.24%,,
paying the manufacturer of optical and photonic products a fee of $ 217.6 million. Lumentum offered $ 230 in cash and 0.6724 shares of Lumentum for each coherent share. Coherent’s board of directors said it found the offer II-VI to remain a “company proposal for superiority”. The contract will be subject to regulatory approval and agreement of the shareholders of both companies.

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