Laser Giants Lumentum and Coherent Join Forces in a $5.7B Merger

Lumentum and Coherent have entered into a definitive agreement under which Lumentum will acquire Coherent in a cash and stock transaction valued at $5.7 billion. Under the terms of the agreement, which has been unanimously approved by the Boards of Directors of both companies, Coherent stockholders will receive $100.00 per share in cash and 1.1851 shares of Lumentum common stock for each Coherent share they own. In closing, Coherent stockholders are expected to own approximately 27% percent of the combined company.

“Today’s announcement is an important advancement of Lumentum’s strategy,” said Alan Lowe, Lumentum President, and CEO. “In our five years as a standalone public company, we have focused on developing the most innovative products and technology in our industry and partnering with market-leading customers to help them compete and win in their markets. As we look ahead, we are thrilled to join forces with Coherent to create one of the world’s largest and most diverse photonics technology companies with leading positions in the growing market for photonics. Coherent brings one of the most recognizable and respected brands in the photonics industry and a very talented and innovative team. By increasing our scale, expanding our portfolio, and bolstering our R&D capabilities at a time when global markets are increasingly relying on photonics products and technologies, we are confident in our combined ability to pursue exciting new growth opportunities.

Read the source article at Additive Manufacturing Industry News