MKSI - Coherent II-VI will discuss $6.5 billion acquisition offer

Coherent's (COHR) board will engage in discussions with II-VI (IIVI) in response to its unsolicited $6.5 billion acquisition offer, which followed an accepted bid from Lumentum (LITE) and unsolicited offer from MKS Instruments (MKSI).The II-VI bid came in highest with an offer of $130 in cash and 1.3055 II-VI shares per Coherent share.The laser maker previously announced the board would hold discussions with MKS to determine if its bid was superior to Lumentum. The offer is still under consideration.On Friday, Coherent said the board was reviewing II-VI's offer.IIVI shares are up 3% pre-market. MKS shares are up 2.7%.Lumentum has reportedly threatened to raise antitrust concerns surrounding the rival bids.

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Coherent, II-VI will discuss $6.5 billion acquisition offer