Benzinga | Jan 19, 2021 08:10AM EST

Lumentum To Acquire Coherent For $5.7B In Cash And Stock; Coherent Shareholders To receive $100/Share In Cash And 1.1851 Shares Of Lumentum Stock For Each Coherent Share

SAN JOSE, Calif. and SANTA CLARA, Calif., Jan. 19, 2021 /PRNewswire/ -- Lumentum Holdings Inc. ("Lumentum") and Coherent, Inc. ("Coherent") today announced that they haveSAN JOSE, Calif. and SANTA CLARA, Calif., Jan. 19, 2021 /PRNewswire/ -- Lumentum Holdings Inc. ("Lumentum") and Coherent, Inc. ("Coherent") today announced that they 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. At closing, Coherent stockholders are expected to own approximately 27% percent of the combined company.