Coherent, Inc. (COHR) Signs Revised Merger Agreement with Lumentum (LITE)

March 10, 2021 6:07 AM EST

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Coherent, Inc. (NASDAQ: COHR) today announced that it has entered into a revised merger agreement with Lumentum Holdings Inc. (NASDAQ: LITE).

Under the terms of the revised merger agreement, 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.

The Coherent board of directors unanimously recommends that Coherent's stockholders vote FOR the proposed merger with Lumentum at the stockholder meeting that will be convened to vote on the merger.

Bank of America and Credit Suisse are serving as financial advisors to Coherent, and Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal advisor.



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