MKSI - MKS Instruments' raised Coherent bid lost out to II-VI

Earlier today, Coherent ([[COHR]] +1.7%) announced that II-VI ([[IIVI]] -0.9%) raised its acquisition offer to $170 in cash and 1.0981 II-VI common shares for each Coherent share, which equals out to $260 per share. The company's board deemed the II-VI offer as superior to the previously accepted Lumentum ([[LITE]] -1.7%) bid.The third participant in the bidding war, MKS Instruments ([[MKSI]] +4.3%), announces it had also raised its offer. MKS offered $135 in cash and $115 in stock for a total of $250 per share.“We respect the Coherent Board’s determination, though we are disappointed that they did not declare ours to be a superior offer,” says John T.C. Lee, President and CEO of MKS.In early February, MKS had offered $115 in cash and 0.7473 MKS shares per Coherent share.

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MKS Instruments' raised Coherent bid lost out to II-VI