Coherent (COHR) confirms receipt of Unsolicited Proposal from MKS Instruments (MKSI)

POTENTIAL DEAL DETAILS

Coherent, Inc. (COHR) today announced that it has received an unsolicited acquisition proposal from MKS Instruments, Inc. (MKSI) to acquire Coherent in a cash and stock transaction.

Update(s):

February 12, 2021: II-VI Incorporated (IIVI), a global leader in engineered materials and optoelectronic components, today announced it has made an offer to acquire Coherent, Inc. (COHR), a global laser technology leader, in a cash and stock transaction. Under the terms of II-VI’s proposal made in a letter to Coherent’s Board of Directors, Coherent’s shareholders would receive $130.00 in cash and 1.3055 II-VI common shares for each Coherent share. Based on yesterday’s closing price of II-VI shares, II-VI’s proposal is valued at $260.00 per Coherent share.

February 16, 2021: Coherent, Inc. (COHR) today announced that its board of directors has determined to engage in discussions with II-VI Incorporated (IIVI) in response to its unsolicited proposal to acquire Coherent in a transaction where each share of Coherent common stock would be exchanged for $130.00 in cash and 1.3055 shares of II-VI common stock.

February 24, 2020: The Santa Clara, California-based company has asked MKS Instruments Inc. and II-VI Inc. to submit final bids by late next week, according to people familiar with the matter.

March 08, 2021: MKS Instruments, Inc. (MKSI) , a global provider of technologies that enable advanced processes and improve productivity, today confirmed that it had submitted a revised offer on Friday March 5, 2021 to acquire all outstanding shares of Coherent, Inc. for $250 per share, composed of $135 in cash and $115 in shares of MKS common stock (subject to a symmetrical 10% collar).

March 17, 2021: Lumentum Holdings Inc. today confirmed that on March 17, 2021, it delivered to Coherent, Inc.’s (COHR) Board of Directors a revised proposal to acquire Coherent in a cash and stock transaction valued at $6.9 billion.

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