Ii-vi incorporated offers to acquire coherent for $260 per share

Pittsburgh, pa., feb. 12, 2021 (globe newswire) -- ii-vi incorporated (nasdaq: iivi), a global leader in engineered materials and optoelectronic components, today announced it has made an offer to acquire coherent, inc. (nasdaq: cohr), a global laser technology leader, in a cash and stock transaction. under the terms of ii-vi's proposal made in a letter today (see below) 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.
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