Coherent's Board To Review Lumentum's New Proposal - Quick Facts

(RTTNews) - Lumentum Holdings Inc. (LITE) has delivered to Coherent, Inc.'s (COHR) Board a revised proposal to acquire Coherent in a cash and stock deal valued at $6.9 billion. Under the revised proposal, Coherent stockholders would receive $220.00 per share in cash and 0.6100 shares of Lumentum common stock for each Coherent share they own. This equates to a consideration of $275.00 per Coherent share.

Lumentum plans to finance the cash portion of the transaction through a combination of cash on hand from the combined company's balance sheet, $3.25 billion in new debt financing from a fully committed Term Loan B and the $1 billion equity investment from Silver Lake.

Coherent's board stated that it will carefully review Lumentum's new proposal in comparison to II-VI's March 11, 2021 acquisition proposal.