By Reuters Staff
2 Min Read
(Reuters) - Coherent Inc said on Monday it had received a $6 billion takeover offer from manufacturing devices maker MKS Instruments Inc, weeks after the laser manufacturer agreed to a deal from Lumentum Holdings.
Coherent shares jumped 16% on the news in early trading, while MKS slipped 5%.
MKS, which primarily generates revenue from sale of its products to semiconductor device manufacturers, said its move was aimed at grabbing a bigger share of the fast-growing laser and photonics market.
Its cash-and-stock offer values Coherent shares at $240 apiece, representing a premium of about 24% to the stock’s Friday close.
Vietnam on Monday awarded a licence to a unit of Taiwan's Foxconn Technology Co Ltd to build a $270 million plant to produce laptops and tablets, the Vietnamese government said.
Taiwan's central bank began meeting this week with major exporters to ask them to spread out sales of foreign currency, four sources with direct knowledge of the matter told Reuters, as it continues to try to rein in the soaring local currency.
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BEIJING/TAIPEI (Reuters) - Taiwan’s Foxconn and Chinese automaker Zhejiang Geely Holding Group said on Wednesday they will join hands to provide contract manufacturing for automakers.
They will each hold 50% of a venture that will also provide consulting services on electric vehicle (EV) technologies to automakers, the companies said in a statement.
It marks the latest move by Foxconn, a major Apple Inc supplier, into autos after a tie-up with Chinese electric car startup Byton and comes amid reports that Apple is likely to launch a self-driving electric car by 2024.
For Geely, the partnership will allow it to share its first EV-focused platform, launched in September, with other automakers, according to people familiar with Geely’s plan.
Taiwan's Foxconn and Chinese automaker Zhejiang Geely Holding Group said on Wednesday they will join hands to provide contract manufacturing for automakers.