RTTNews | Mar 17, 2021 05:23AM EDT

05:22 Wednesday, March 17, 2021 (RTTNews.com) - Lumentum Holdings Inc. (LITE) has delivered to Coherent, Inc.'s (COHR) Board a revised proposal to acquire Coherent in a cash and stock deal valued at $6.9 billion. Under the revised proposal, Coherent stockholders would receive $220.00 per share in cash and 0.6100 shares of Lumentum common stock for each Coherent share they own. This equates to a consideration of $275.00 per Coherent share.

Lumentum plans to finance the cash portion of the transaction through a combination of cash on hand from the combined company's balance sheet, $3.25 billion in new debt financing from a fully committed Term Loan B and the $1 billion equity investment from Silver Lake.

Coherent's board stated that it will carefully review Lumentum's new proposal in comparison to II-VI's March 11, 2021 acquisition proposal.

Read the original article on RTTNews ( https://www.rttnews.com/3178051/coherent-s-board-to-review-lumentum-s-new-proposal-quick-facts.aspx)

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