LASR - Neophotonics gains after MKS Instruments makes competing bid for Lumentum

Neophotonics (NPTN) jumping 4.4% after MKS Instruments (MKSI) made a rival bid for Coherent (COHR), topping Lumentum's deal (LITE) as Neophotonics has been seen as a takeover target in the industry.Neophotonics could potentially be a target for Lumentum or others if MKS succeeds in its rival offer for Coherent, though CNBC's David Faber said that Lumentum is likely to argue that a potential combination of COHR/MKSI would have "huge" antitrust problems.Recall on Jan. 19, Neophotonics initially gained 9.7% on news about Lumentum's deal for Coherent and previously Needham analyst Alex Henderson wrote that NeoPhotonics was the industry's most attractive remaining target after the company was "de-risked" with the removal of Huawei.Other competitors that may be gaining on the rival bid today include IPG Photonics (IPGP) up 2.5% and nLight Inc. (LASR), up 0.4%.

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Neophotonics gains after MKS Instruments makes competing bid for Lumentum