Lumentum Holdings Inc. - LITE STOCK NEWS

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.

Lumentum Holdings has announced its definitive agreement to acquire Coherent, which is expected to create a leading photonics technology company. Coherent shareholders will receive $100 per share plus 1.1851 shares of Lumentum common stock. The transaction, anticipated to close in the second half of 2021, seeks regulatory and shareholder approvals. Lumentum aims to innovate and expand in the photonics sector, contrasting MKS Instruments' proposal with a clearer path to completion. Deutsche Bank is advising Lumentum on this strategic move.

Coherent, Inc. (NASDAQ: COHR) announced it received an unsolicited acquisition proposal from MKS Instruments, Inc. (NASDAQ: MKSI) offering $115 in cash and 0.7473 of an MKS share per Coherent share. This proposal is subject to closing conditions such as antitrust approvals. On January 19, Coherent entered a merger agreement with Lumentum Holdings Inc. (NASDAQ: LITE), offering $100 in cash and 1.1851 Lumentum shares per Coherent share. Coherent's board is evaluating the MKS proposal, recognizing it could be superior to Lumentum's offer but continues to recommend the Lumentum merger to shareholders.

Lumentum Holdings Inc. reported fiscal second-quarter results for 2021, showing net revenue of $478.8 million, up 5.8% from the previous quarter. GAAP net income reached $83.2 million, or $1.06 per diluted share, compared to $67.1 million in Q1. Non-GAAP net income was $155.7 million, or $1.99 per diluted share. The company held $1,700.3 million in cash and equivalents, an increase of $89.6 million from the prior quarter. Lumentum also anticipates revenue between $425 million and $440 million for Q3.

Lumentum Holdings Inc. will participate in the Goldman Sachs 2021 Virtual Technology & Internet Conference on February 11, 2021, at 10:10 a.m. Pacific Time. A webcast of the event will be available on the company's investor relations website. As a leader in the design and manufacturing of optical and photonic products, Lumentum plays a crucial role in optical networking and laser applications globally. The company is headquartered in San Jose, California, and offers innovative solutions for telecom and data center networks.

Lumentum Holdings will announce its fiscal Q2 2021 financial results for the period ended December 26, 2020, on February 2, 2021, before market opening. A conference call is scheduled for the same day at 5:30 a.m. PT, accessible via telephone and live webcast. Participants are encouraged to pre-register for quicker access. The earnings press release will be available on Lumentum's investor website, where additional conference call materials will also be posted. Lumentum specializes in optical and photonic products, serving various sectors including telecom and data centers.

Lumentum Holdings reported preliminary results for the fiscal second quarter of 2021, revealing net revenue of approximately $478.8 million. The GAAP operating margin ranged from 22.6% to 24.1%, with diluted net income per share between $0.98 and $1.06. Non-GAAP figures showed operating margins from 34.0% to 35.5% and diluted net income per share of $1.91 to $1.99. The final results are subject to revision as they are based on preliminary unaudited information. A conference call discussing these results will be held on February 2, 2021.

Lumentum Holdings and Coherent have signed a definitive agreement for Lumentum to acquire Coherent in a cash and stock deal valued at $5.7 billion. Each Coherent shareholder will receive $100.00 in cash plus 1.1851 shares of Lumentum stock. Upon closing, Coherent shareholders will own 27% of the combined entity. This merger aims to enhance Lumentum's presence in the photonics market, estimated at over $10 billion, by merging operations and R&D capabilities across multiple industries, including telecommunications and aerospace.

Lumentum Holdings is set to acquire Coherent for $5.7 billion, offering Coherent shareholders $100 in cash and 1.1851 shares of Lumentum stock per share. This merger is expected to enhance Lumentum's market presence in the photonics industry, uniting capabilities in lasers, microelectronics, and aerospace sectors. The combined entity will target a $10 billion market outside traditional segments and is projected to generate over $150 million in synergies within 24 months, benefiting shareholders with accretive earnings in the first year post-merger.