Coherent (COHR) to be acquired by Lumentum (LITE) for $5.7 bln, creating a laser giant

• Update March 25 (Reuters) - Coherent Inc on Thursday agreed to a $7 billion buyout offer from optical components maker II-VI Inc, walking away from a bid from Apple supplier Lumentum Holdings Inc that had put the laser maker into play two months ago. (timeline)
  
• Coherent, which is paying nearly $218 million to Lumentum for terminating the deal, said it made the final call after comparing benefits and the potential risks of each proposal.

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Coherent  (COHR) soared on Tuesday after the laser maker agreed to be acquired by rival Lumentum Holdings for $5.7 billion in cash and stock. Coherent holders will receive $100 in cash and 1.1851 Lumentum shares for each Coherent share, about $214 in value. At closing, Coherent (COHR) holders will own about 27% of the combined company.