Welcome to our dedicated page for Coherent news (Ticker: COHR), a resource for investors and traders seeking the latest updates and insights on Coherent stock.
Coherent Corp. (NYSE: COHR) is a global leader in materials, networking, and lasers, renowned for its innovative contributions across multiple industries. Headquartered in Saxonburg, Pennsylvania, Coherent specializes in engineered materials and optoelectronic components, serving sectors such as industrial, optical communications, military, semiconductor, consumer, and life sciences applications.
Coherent operates through two main segments: Photonic Solutions Segment and Compound Semiconductors Segment. The Photonic Solutions Segment leverages II-VI's compound semiconductor technology platforms to deliver components and subsystems, while the Compound Semiconductors Segment is noted for its market leadership in differentiated materials and devices.
Recent achievements include the demonstration of an 800 Gbps coherent transceiver module in QSFP-DD form factor, showcased at OFC 2024. This module features Coherent's 140 Gbaud IC-TROSA optical subassembly, offering high-efficiency indium phosphide modulators and proprietary embedded wavelength-tunable lasers, extending transmission distances up to 1000 km at 800 Gbps.
Additionally, Coherent has been pioneering advancements in VCSEL technology, enabling bandwidth improvements for next-generation optical interconnects. These developments are pivotal for data centers and AI networks, potentially achieving 200 Gbps per lane and optical transceivers with 1.6 Tbps capacity.
Coherent's commitment to innovation is further exemplified by its 6-inch indium phosphide wafer fabrication capability in its U.S. and European fabs, increasing production capacity and reducing die costs for InP optoelectronic devices used in a variety of applications from communications to advanced sensing.
In alignment with its ongoing innovation, Coherent has secured $15 million in funding from the CHIPS Act to accelerate the commercialization of wide- and ultrawide-bandgap semiconductors, enhancing the efficiency of electric vehicles, power grids, and data centers.
Financially, Coherent has demonstrated robust performance, with its Q3 FY2024 results available in a detailed shareholder letter on the Investor Relations section of its website. This format aims to provide greater insight into the company’s operations and future outlook.
For more information about Coherent and its groundbreaking technologies, visit coherent.com.
On March 23, 2021, Coherent announced a new acquisition proposal from Lumentum, offering $230 in cash and 0.6724 shares of Lumentum per share of Coherent. This proposal follows II-VI's superior offer of $220 and 0.91 shares per Coherent share, received on March 17, 2021. Coherent's board will review Lumentum's offer against II-VI's. The transaction is subject to stockholder and regulatory approvals in China and South Korea. The Hart-Scott-Rodino waiting period has expired, but no assurance exists that Coherent will accept Lumentum's proposal.
Lumentum Holdings received notice from Coherent's Board that an acquisition proposal from II-VI is deemed a 'Company Superior Proposal' under their merger agreement from March 9, 2021. Coherent plans to terminate this agreement, which would incur a $217.6 million termination fee to Lumentum. Lumentum has until March 22, 2021, to amend or waive its rights concerning the proposal. Despite this situation, Lumentum's Board continues to recommend the merger with Coherent.
On March 18, 2021, Coherent, Inc. (NASDAQ: COHR) acknowledged a revised acquisition proposal from II-VI Incorporated (NASDAQ: IIVI). The proposal offers $220 in cash and 0.91 shares of II-VI common stock per Coherent share. This proposal is deemed a 'Company Superior Proposal' compared to a prior offer from Lumentum Holdings Inc. (NASDAQ: LITE). Coherent's board has notified Lumentum of its intention to terminate their agreement unless a better proposal is received by March 22, 2021. Financial advisors Bank of America and Credit Suisse are assisting Coherent in these negotiations.
Lumentum Holdings has submitted a revised proposal to acquire Coherent, valued at $6.9 billion, offering Coherent shareholders $220.00 in cash and 0.6100 shares of Lumentum common stock for each Coherent share. This equates to $275.00 per Coherent share based on Lumentum's recent stock price. Silver Lake will invest $1 billion in the combined entity. The merger could lead to significant synergies, estimated at $219 million to $244 million annually. The transaction awaits approval by shareholders and regulatory bodies, expected to close in late 2021.
Coherent, Inc. (NASDAQ: COHR) has received a new acquisition proposal from Lumentum Holdings Inc. (NASDAQ: LITE). The offer includes $220.00 in cash and 0.61 shares of Lumentum stock for each share of Coherent. This proposal, needing stockholder and regulatory approvals, comes after Coherent's board considered a previous offer from II-VI valued at $195.00 in cash and 1.0 share of II-VI stock. Coherent's board will review Lumentum's proposal against II-VI's to determine the best course of action for shareholders.
Lumentum Holdings Inc. announced that Coherent's Board deemed an unsolicited acquisition proposal from II-VI Incorporated as a 'Company Superior Proposal' under a prior merger agreement. Coherent intends to terminate its agreement with Lumentum, which was established on March 9, 2021. Lumentum has until March 17, 2021, to amend the transaction agreement. If Coherent proceeds with II-VI, it must pay a termination fee of $217.6 million to Lumentum. The Lumentum Board continues to recommend the merger with Coherent to its shareholders.
Coherent, Inc. (NASDAQ: COHR) announced on March 12, 2021, that its board has determined a revised acquisition proposal from II-VI Incorporated (NASDAQ: IIVI), received on March 11, to be a 'Company Superior Proposal.' This proposal offers $195.00 in cash and one share of II-VI common stock for each share of Coherent. Consequently, Coherent intends to terminate its current merger agreement with Lumentum Holdings Inc. (NASDAQ: LITE) unless Lumentum presents a more favorable proposal by March 17, 2021. Financial and legal advisors involved include Bank of America and Credit Suisse.
Coherent, Inc. (NASDAQ: COHR) announced a revised merger agreement with Lumentum Holdings Inc. (NASDAQ: LITE) on March 10, 2021. The agreement states that each share of Coherent common stock will be exchanged for $175.00 in cash and 1.0109 shares of Lumentum stock at closing. The deal requires approval from both companies' stockholders and regulatory approvals in China and South Korea. Coherent's board recommends shareholders vote in favor of the merger, expected to close in the second half of 2021.
Lumentum Holdings Inc. received notice from Coherent, Inc. regarding an unsolicited acquisition proposal from II-VI Incorporated, which Coherent's Board deemed a "Company Superior Proposal" under its existing merger agreement with Lumentum. Coherent intends to terminate the merger agreement, requiring a $217.6 million termination fee if it proceeds with II-VI. Lumentum will review the proposal, having four business days to respond. Despite this, Lumentum's Board continues to recommend the merger with Coherent to its stockholders.
Lumentum Holdings has issued a statement regarding MKS Instruments' unsolicited acquisition proposal for Coherent, asserting that the proposal is misleading and fraught with regulatory risks. Lumentum emphasizes that its agreed merger with Coherent provides a more secure path to completion, promising to tackle antitrust regulations effectively. MKS's proposal lacks necessary commitments to mitigate significant overlaps, which could lead to value loss for Coherent shareholders. The definitive agreement between Lumentum and Coherent includes a $100.00 cash payment and 1.1851 Lumentum shares per Coherent share, anticipated to finalize in the latter half of 2021.
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