Lumentum Holdings Inc.
said Monday it has agreed to acquire Coherent Inc.
in a cash-and-stock deal valued at $5.7 billion. Under the terms of the deal, Lumentum will pay $100 in cash at 1.1851 shares of comment stock for each Coherent share. At closing. Coherent shares will own about 27% of the combined company. The deal “unites Coherent’s leading photonics and lasers businesses, including in the Microelectronics, Precision Manufacturing, Instrumentation, and Aerospace & Defense markets, with Lumentum’s leading Telecom, Datacom, and 3D Sensing photonics businesses, creating a diversified photonics technology company with significantly increased scale and market reach,” the companies said in a joint statement. The deal is expected to boost earnings in the first year after closing and to generate more than $150 million in annual run-rate synergies. The deal is expected to close in the second half of 2021. Coherent shares soared 31.7% premarket, while Lumentum was down 1.7%.
Go to the news source: Lumentum to acquire Coherent in cash and stock deal valued at $5.7 billion