Coherent and Lumentum sign revised merger agreement
Laser makers Coherent (Santa Clara, CA) and Lumentum (San Jose, CA) have entered into a revised merger agreement in which each share of Coherent common stock will be exchanged for $175.00 in cash and 1.0109 shares of Lumentum common stock at the completion of the transaction. The termination fee payable to Lumentum if Coherent accepts a competing acquisition proposal remains unchanged from Coherent’s original merger agreement with Lumentum.
The transaction is subject to approval by Coherent’s and Lumentum’s stockholders, receipt of regulatory approvals in China and South Korea, and other customary closing conditions. The applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act has already expired. The transaction is expected to close in the second half of calendar-year 2021.