Coherent To Terminate Merger Deal With Lumentum

(RTTNews) - Lumentum Holdings Inc. (LITE) said Coherent, Inc. (COHR) has provided notice of termination of the amended definitive merger agreement with Lumentum. Coherent is required to pay a $217.6 million termination fee to Lumentum.

Lumentum stated that Coherent's Board chose to accept an offer that is inferior in overall value and cash consideration. Lumentum's offer consisted of $230 in cash and 0.6724 shares of Lumentum stock for each share of Coherent. II-VI's offer consisted of $220 in cash and 0.9100 shares of II-VI for each share of Coherent, Lumentum noted.