MKSI - Lumentum shares gain as Coherent mulls rival acquisition bid from MKS

Coherent (COHR) announces receiving an unsolicited acquisition offer from MKS Instruments (MKSI) for $115 in cash and 0.7473 MKS share per Coherent share.Last month, Coherent announced that Lumentum (LITE) had offered to acquire the company for $100 in cash and 1.1851 shares per COHR share.After an evaluation, Coherent decided that the MKS offer "could lead to a transaction that is superior to its pending transaction with Lumentum." Coherent will hold discussions with MKS "to further evaluate the comparative benefits and risks of MKS' proposed transaction."Press release. LITE shares are up 2.7% pre-market. MKSI is down 2.2%.Last month, COHR shares surged after announcing the Lumentum offer and guiding upside FQ1 results.

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Lumentum shares gain as Coherent mulls rival acquisition bid from MKS