NPTN - Coherent/II-VI deal spread narrows on report of progress in China review

The deal spread with II-VI (NASDAQ:IIVI) planned purchase of Coherent (NASDAQ:COHR) narrowed after a report of progress with China's antitrust review. Coherent (COHR) and II-VI (IIVI) are reportedly finalizing a market test of a remedy in China, according to traders, who cited a report being circulated. The latest update come after Dealreporter in late April said imminent approval of the transaction wasn't expected as remedies hadn't been finalized. Though a China market test of remedies had gone well, third parties have raised some new issues and have requested additional concessions. Last Month, II-VI (IIVI) and Coherent (COHR) refiled their premerger notification with the FTC after the 1-year expiration of the initial HSR Notification was set to expire at the time. Last Thursday, NeoPhotonics (NPTN) gained amid report of update on Chinese review of Lumentum (LITE) deal.

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Coherent/II-VI deal spread narrows on report of progress in China review