Coherent has received interest from three companies. The Lumentum Holdings Inc. (NASDAQ: LITE) purchased Coherent’s business first, then MKS Instruments, Inc. (NASDAQ: MKSI), retired. Later, Coherent’s management stated that the laser manufacturer II-VI Incorporated (NASDAQ: IIVI) is better.
Recently, it became known that Coherent has refused to merge with Lumentum in retaliation for the merger and will be fined $ 217,6 million for terminating contracts that have already been finalized. Coherent will then start negotiating an agreement with II-VI Incorporated.
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To cancel the Lumentum deal, the board has already approved it. However, shareholders’ and regulators’ approval is still needed in the United States for sale to II-VI Incorporated. If everything goes according to plan, the deal will be closed in the fourth quarter of 2021.
Coherent’s long saga is probably nearing its conclusion. The technology makes it possible to manufacture optical communication devices. The Coherent laser line of metal cutting products includes manufacturing miniature optical devices for biotech companies and other electronics manufacturers.
There are many advantages of using optics over electrical circuits. Furthermore, it is invulnerable to interference, as well as working with high frequencies. The optics in specific devices, such as microfluidic chips, can be used for sample management, a method for counting cells, or a high-precision means of delivering high-precision drug dosing.