Lumentum Amends Agreement to Acquire Coherent in $ 6.6 Billion Cash and Stock Deal


(RTTNews) – Coherent, Inc. (COHR) has entered into a revised merger agreement with Lumentum Holdings Inc. (LITE). Lumentum will acquire Coherent in a cash and stock transaction whereby Coherent shareholders will receive $ 175.00 per share in cash and 1.0109 common shares of Lumentum for each Coherent share they own. This equates to a consideration of $ 261.62 per Coherent share. Coherent shareholders are expected to own approximately 24% of the combined company.

Wajid Ali, Chief Financial Officer of Lumentum, said: “By increasing liquidity and reducing shares in the counterparty mix compared to our previous agreement, we are able to deliver more overall value to Coherent shareholders throughout. by increasing the increase in profits. We expect to achieve annual synergies of over $ 190 million within 36 months of closing and expect the transaction to be accretive to non-GAAP earnings per share in the first full year of closing. combined operation. “

Coherent’s board of directors recommended that shareholders vote for the proposed merger with Lumentum at the shareholders’ meeting.

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