RTTNews | Mar 8, 2021 09:51AM EST

09:49 Monday, March 8, 2021 (RTTNews.com) - MKS Instruments Inc. (MKSI) confirmed that it had submitted a revised offer on March 5, 2021 to acquire all outstanding shares of Coherent for $250 per share. The offer comprised of $135 in cash and $115 in shares of MKS common stock.

"We respect the Coherent Board's determination, though we are disappointed that they did not declare ours to be a superior offer. We continue to believe that MKS is the best partner for Coherent, and our analysis with respect to synergies, leverage, and dilution gives us confidence that the near- and long-term value creation of our offer exceeds that of the competing offers. However, we remain disciplined acquirers," said John T.C. Lee, President and CEO of MKS.

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