LITE - NeoPhotonics stock climbs as Dealreporter speculates potential sale

Dealreporter speculates that Lumentum (LITE) could shift its M&A interest to NeoPhotonics (NPTN) after losing out on its Coherent bid.The publication notes that NPTN recently appointed AotarGroup exec Kimberly Chainey to its board. Chainey previously served as general counsel for global M&A at Avis Budget, and NPTN could be asking for regulatory and deal advice.NeoPhotonics also filed a new 8-K updating the retention agreement for SVP of global sales Yang Chiah Yee, which now provides Yee with the full targeted annual bonus if there's a termination tied to a change in control.NPTN shares are up 4.9%. LITE shares are up 1.1%.NeoPhotonics appointed Chainey to the board earlier this week.

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NeoPhotonics stock climbs as Dealreporter speculates potential sale