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II-VI Incorporated Offers to Acquire Coherent for $260 per Share
II-VI IncorporatedFebruary 12, 2021 GMT Combination would establish global leader in photonic solutions, compound semiconductors, and laser technology and systems
II-VI proposal represents 24.0% premium over implied value of Lumentum transaction and 9.8% premium over implied value of MKS Instruments’ acquisition proposal
$200 million of run-rate cost synergies expected to be realized within 36 months of closing
Anticipated to be accretive to non-GAAP EPS in the second year following closing
PITTSBURGH, Pa., Feb. 12, 2021 (GLOBE NEWSWIRE) II-VI Incorporated (Nasdaq: IIVI), a global leader in engineered materials and optoelectronic components, today announced it has made an offer to acquire Coherent, Inc. (Nasdaq: COHR), a global laser technology leader, in a cash and stock transaction. Under the terms of II-VI’s